HJ Shipbuilding and Construction Amends Ulsan Power Plant Decommissioning Contract with 2.5% Increase in Value and Extended Completion Date

HJ Shipbuilding and Construction disclosed an amendment to the decommissioning contract for Ulsan Thermal Power Plant Units 4, 5, and 6 with Korea East-West Power on July 16, 2026.
The contract value increased by approximately 2.5 billion KRW from 57.5 billion to 60.1 billion KRW representing a 2.5% rise and the completion date was extended from May 14 2026 to September 18 2026.
The revised amount corresponds to 3.36% of the 2022 consolidated revenue of 1.788 trillion KRW while the increase is only 0.18% of market cap indicating negligible financial impact.
Korea East-West Power is a state-owned utility minimizing counterparty credit risk.
[AI Summary]This amendment involves a minor contract value adjustment and schedule extension with limited impact on shareholder value. The contract size remains modest at 3.4% of revenue and the changes are operational in nature.