HD Hyundai Affiliate Hyundai Samho Heavy Industries Corrects Contract Amount for Boryeong Coal Yard Project, Market Impact Negligible
HD Hyundai subsidiary Hyundai Samho Heavy Industries corrected the contract amount for the Boryeong Thermal Power Plant Units 1-8 coal yard indoor construction project with Korea Midland Power from 372.1 billion KRW to 332.7 billion KRW.
The decrease of 39.4 billion KRW represents only 0.25% of HD Hyundai's market capitalization, indicating negligible financial impact.
The long-term contract runs from September 2021 to August 2027, with payments made monthly based on construction progress.
The amount reflects HD Hyundai Samho's share in a joint venture, and the subsidiary accounts for 11.01% of total assets of HD Hyundai.
[AI Summary]The contract amount adjustment is minimal relative to market cap, with no material effect on stock price or corporate value. This correction is a routine revision with no significant implications for investment decisions.
KOSPI Filing Information
[Correction of Description] Conclusion of Single Sales and Supply Contract (Major Management Matters of Subsidiary)