South Korea-based Hankook Steel & Technology has announced that it has signed a KRW 2.56 billion ($1.8 million) contract with South Korean shipbuilder Samsung Heavy Industries for the supply of stern castings used in shipbuilding, according to a disclosure published through South Korea's DART corporate filing system.
The contract, which was signed on August 10, 2026, and will remain in effect until November 25, 2028, covers shipbuilding components including stern bosses and rudder hub castings, which will be supplied to Geoje, South Gyeongsang Province.
Contract equals 6.41 percent of Hankook Steel's 2025 sales
The KRW 2.56 billion ($1.81 million) contract corresponds to approximately 6.41 percent of Hankook Steel & Technology's total 2025 sales revenue of KRW 39.87 billion ($28.23 million). Compared with the company's KRW 22.05 billion ($15.61 million) in steel casting revenue in 2025, the value of the Samsung Heavy Industries contract represents approximately 11.60 percent.
Hankook Steel stated that details concerning the remaining supply agreements that have not yet been finalized will be announced once the relevant principal contracts are signed.
