Genoco Secures ₩6.14 Billion Contract for Military Satellite Communication Enhancement: What You Need to Know
Daniel Kim Views
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Digital Today
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WASHINGTON — Aerospace and defense firm Genoco (NYSE: GNC) has inked a 6.15 billion KRW (4.61 million USD) contract with STX Engine for a project aimed at enhancing existing military satellite communication systems, the company announced Thursday. The deal, valued at 6.15 billion KRW (4.61 million USD), represents 10.81% of Genoco’s recent annual revenue of 56.8 billion KRW (42.6 million USD). The contract, set to run from February 9, 2026, to December 16, 2027, outlines key payment terms. An advance of 46.9% is scheduled for February 23, 2026, with the remaining 53.1% due upon delivery. As of Thursday afternoon, Genoco’s stock was trading at 27,150 KRW (20.36 USD), up 100 KRW (0.075 USD) from the previous close. Genoco’s latest financial report reveals total assets of 87.3 billion KRW (65.48 million USD), liabilities of 53 billion KRW (39.75 million USD), and equity of 34.3 billion KRW (25.73 million USD). The company posted revenue of 56.8 billion KRW (42.6 million USD) but reported an operating loss of 2.2 billion KRW (1.65 million USD) and a net loss of 3.1 billion KRW (2.33 million USD) for the fiscal year ending December 2024. The Virginia-based Genoco, which specializes in communication and broadcasting equipment for defense applications, went public on the KOSDAQ in March 2021.
Single Sales and Supply Contract
| 1. Contract Details | High-power amplifier and related equipment for military satellite communication system performance enhancement | |
| 2. Contract Specifics | Conditional Contract | Not Applicable |
| Confirmed Amount | 6,145,872,000 | |
| Conditional Amount | – | |
| Total Contract Value (KRW) | 6,145,872,000 | |
| Recent Annual Revenue (KRW) | 56,830,559,488 | |
| Percentage of Revenue | 10.81 | |
| 3. Contracting Party | STX Engine Co., Ltd. | |
| – Recent Revenue (KRW) | 724,609,807,886 | |
| – Primary Business | Engine manufacturing and sales | |
| – Relationship to Genoco | – | |
| – Similar Contracts in Past 3 Years | Not Applicable | |
| 4. Delivery Location | As specified by prime contractor | |
| 5. Contract Duration | Start Date | 2026-02-09 |
| End Date | 2027-12-16 | |
| 6. Key Terms | Advance Payment | Yes |
| Payment Schedule | 46.9% advance on 2026-02-23; 53.1% upon delivery (15th of delivery month) |
|
| 7. Production Method | In-house | Yes |
| Outsourced | No | |
| Other | – | |
| 8. Contract Date | 2026-02-09 | |
| 9. Disclosure Deferral | Deferral Period | – |
| Reason for Deferral | – | |
| 10. Additional Notes | ||
| 1. Revenue figures based on FY2024 results 2. Contract in KRW, excluding VAT 3. Duration and value subject to potential adjustments |
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| Related Disclosures | – | |
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