HD Hyundai Heavy Industries Hosts Seminar Supporting Shipbuilding Partners Invited by Defense Acquisition Program Administration

'29th Dongbansungjang Defense Cost Seminar' Held for the First Time

On the 29th, HD Hyundai Heavy Industries announced that it held a 'Defense Industry Cost Seminar for Mutual Growth' at the Talent Training Center in Dong-gu, Ulsan, with the participation of 30 shipbuilding sector partner companies, the Defense Acquisition Program Administration, the Korea Defense Industry Promotion Association, and defense cost consulting firms.

Joo Won-ho, Head of the Special Ship Business Division at HD Hyundai Heavy Industries, stated, "The defense industry, which involves the use of public tax funds, must be supported by a transparent and reliable cost management system," adding, "Let us all work together to lead the leap of K-defense through the advancement of cost estimation."

Focusing on shipbuilding defense costs, HD Hyundai Heavy Industries presented 'Development Plans for Mutual Growth of Partner Companies in the Shipbuilding Sector' at this seminar and listened to the difficulties faced by partner companies in calculating defense costs.

Kim Byung-woo, Senior Manager of the Special Ship Business Division at HD Hyundai Heavy Industries, who gave the presentation, said, "In the shipbuilding sector, which involves large-scale complex weapon systems, it is necessary to have specialized personnel and systems to manage vast cost data," and added, "To enhance the reliability of shipbuilding costs, it is essential to strengthen the cost management capabilities of small and medium-sized partner companies."

He continued, "HD Hyundai Heavy Industries will introduce a cost management system that complies with the Defense Acquisition Program Administration’s defense cost management certification system," and added, "We plan to support consulting and training to secure defense cost capabilities and build systems for partner companies."

HD Hyundai Heavy Industries decided to continuously pursue institutional improvements and development plans by reflecting partner companies’ opinions and preparing and sharing ways to systematically and easily utilize the defense cost system.

At the seminar, a representative from the Defense Acquisition Program Administration gave a presentation on 'Introduction and Utilization of the Integrated Defense Cost System,' emphasizing the necessity of using the Integrated Defense Cost System.

Kim Myung-soo, a team leader at the Korea Defense Industry Promotion Association, guided on 'Practical Cost Estimation for Defense Subcontractors,' explaining the standards for defense cost estimation for subcontractors and related institutional changes. Additionally, Park Heung-gil, a specialist from Seohyun Accounting Corporation, introduced 'Cost Verification Procedures and Cautionary Points Based on Case Studies.'