Hanwha Engine Signs 132.25 Billion Won Ship Engine Deal with Samsung Heavy Industries

Hanwha Engine disclosed on October 15, 2026 that it signed a ship engine supply contract with Samsung Heavy Industries worth 132,253,680,000 won. The contract covers engines for vessels Samsung Heavy Industries plans to build, with the sale and supply region listed as domestic, meaning South Korea.

The contract period runs from October 15, 2026 to November 15, 2028 and may change depending on the progress of the shipbuilding schedule. Payment terms are stated as 15% advance payment and 85% balance. The contract award date is October 15, 2026, reported as the effective date of the engine supply LOI signed with Samsung Heavy Industries.

The contract amount equals 9.6% of Hanwha Engine's recent revenue of 1,371,057,336,146 won. That revenue figure is based on the consolidated financial statements as of the end of 2025, and the contract amount was calculated using the standard exchange rate of 1,338.60 won per USD on the contract date.

According to stock price information, Hanwha Engine's share price was 36,400 won as of 6:01 PM on October 15, down 3,450 won, or 8.66%, from the previous day.

Background

As of the end of 2025, Hanwha Engine's consolidated financials were total assets of 1,695.7 billion won, total liabilities of 1,139.6 billion won, total equity of 556.1 billion won, revenue of 1,371.1 billion won, operating profit of 130.1 billion won, and net income of 173.8 billion won. Hanwha Engine was listed on the KOSPI market on January 4, 2011, in the general purpose machinery manufacturing sector.