Hankook Joongang has signed a supply contract with Samsung Heavy Industries, worth approximately 25 billion won, to provide stern sections for ships

Hankook Ju Gang (025890) announced that it has signed a supply contract with Samsung Heavy Industries, with August 10, 2026, as the contract date, for stern boss and rudder hub castings and other shipbuilding materials. The contract amount, excluding VAT, is approximately 2.55649 billion won. This represents 6.41% of the company's total revenue of approximately 39.872 billion won based on the financial statements at the end of 2025, and 11.60% of the revenue from the Ju Gang division (approximately 22.047 billion won). This contract represents a significant portion within the company's core business areas. The revenue breakdown is as follows: approximately 22 billion won from Ju Gang sales, approximately 17.7 billion won from compressed product sales, and approximately 1.3 billion won from other sales. The supply region is Geoje, Gyeongsangnam-do, and the contract period is from August 10, 2026, to November 25, 2028, for approximately 2 years and 3 months. There are no upfront payments or deposits, and payments will be invoiced and made according to the progress of the orders. The company does not qualify as a large corporation under the relevant regulations. This contract is a formal agreement based on a supply agreement that was initially disclosed on December 11, 2025, through a regular disclosure. The company stated that there are remaining portions of the agreement that have not yet been finalized, and that a separate disclosure will be made when those remaining portions are finalized. Samsung Heavy Industries is an external business partner with no special relationship with Hankook Ju Gang. Stern boss and rudder hub castings are essential casting components used in the stern structures of ships, and their demand is determined by the shipbuilding industry's order volume. With this contract, Hankook Ju Gang has secured a portion of Samsung Heavy Industries' supply volume until the end of 2028.