ILSUNG CONSTRUCTION Amends School Construction Contract with National Defense Finance Unit, Extends Period, Secures Stable Revenue

ILSUNG CONSTRUCTION submitted a correction disclosure changing the end date of a school construction contract signed in April 2023 from June 2026 to an unspecified date, indicating a planned contract extension.
The contract amount is 71.6 billion KRW, representing 14.31% of its 2024 consolidated revenue, with monthly billing based on progress, supporting cash flow stability.
The counterparty is the National Defense Finance Management Unit, a government entity with minimal credit risk, ensuring reliable revenue.
[AI Summary]This amendment signals a contract extension for ILSUNG CONSTRUCTION, securing continued revenue from a highly credible government counterparty. The impact on shareholder value is neutral to slightly positive with limited downside risk.