[Edaily Reporter Kim Hyung-il ] EG CORPORATION(037370), a company engaged in the manufacture, sale, and engineering of ferrite magnetic materials, has secured a contract worth 6.1 billion won for dust collection equipment in Kazakhstan.

According to the Financial Supervisory Service’s electronic disclosure system on the 8th, EG CORPORATION signed a “Contract for the Manufacture, Supply, and Technical Services of Dust Collection Equipment-Related Materials” with Ilgwang E&C. The contract amount is 6.165 billion won, which accounts for 9.82% of EG CORPORATION’s 2025 consolidated revenue of 62.75062 billion won.

This contract is for a project being carried out in Kazakhstan. The contract period was set at approximately 20 months, from the 7th of this month to May 7, 2028. The counterparty to the contract, Ilgwang NC& Co., Ltd., specializes in the manufacture and supply of air pollution control equipment and technical services.

Payment will be made in installments based on the project’s progress. Following the signing of the contract, the company will receive advance payments of 5% and 15%, respectively, and subsequently receive 60% based on the project’s progress. Of this progress-based payment, 30% will be paid at the time of FOB shipment, and the remaining 30% upon arrival at the site.

Subsequently, 15% is paid upon completion of commissioning, and the remaining 5% is paid after the customer approves operation. EGC CORPORATION plans to fulfill this contract through outsourced production rather than in-house manufacturing.

Accordingly, the contract amount will be recognized as revenue on a sequential basis. Since the contract period extends through 2028 and payments are structured to be made in stages—based on the advance payment, progress payments, commissioning, and customer approval—the actual revenue recognition may vary depending on the project’s progress.