Seojeon Electric Machinery Confirms 2-Month Extension of 16.8 Billion Won Solar Plant Contract

Seojeon Electric Machinery filed a correction disclosure on June 30, 2026 extending the end date of its single sale and supply contract for the Jeju Sumang solar power plant construction from June 30, 2026 to August 27, 2026.
This extension follows a prior two-month extension with no change to the contract value of 16.8 billion won excluding VAT which represents 38.3% of 2023 sales.
The counterparties are Geumyang Green Power and Dasco with payment terms unchanged: 30% advance payment 60% after factory test and 10% after commissioning.
[AI Summary]This amendment is purely an administrative change extending the contract end date by two months with no financial modifications. Therefore the impact on stock price and enterprise value is neutral though it may suggest potential delays in project completion.