South Korea’s shipbuilder Hanwha Ocean has announced a $1.3 billion investment over the next three years to enhance safety at its shipyard operations. This decision follows pressure from the government and unions, who have criticized the company for its lax safety protocols. The Hanwha Group recently acquired control of Daewoo Shipbuilding & Marine Engineering (DSME), and since then, the shipyard has faced increased scrutiny after a series of incidents, including fatal accidents.
In response to the safety concerns, Hanwha Ocean CEO Kim Hee-cheul stated that a comprehensive overhaul of the safety management system is necessary. The $1.3 billion program includes $853 million allocated specifically for safety initiatives over the next three years. This investment will also cover the implementation of a smart system using artificial intelligence to detect hazards, as well as providing workers with body cameras, tablets, and smartwatches. Additionally, $528 million will be used to replace outdated equipment that poses safety risks.
South Korea introduced new safety regulations for the shipbuilding industry in January 2022, following a series of fatal incidents at the Geoje shipyard. The former CEO of DSME was indicted in April 204 for a fatal accident that occurred under their watch, highlighting the accountability of senior management for safety lapses. This move towards stricter safety measures aims to prevent future accidents and ensure the well-being of workers in the shipbuilding industry.
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