World's First 'Smart Safety Shipyard' to Be Built... Hanwha Ocean to Invest 2 Trillion Won

Company-wide Innovation for Advanced Safety Culture Begins

KRW 1.976 Trillion Invested Over 3 Years for Zero Accidents

Aiming to Become the World's Safest Shipyard

Hanwha Ocean has launched a company-wide innovation project worth nearly 2 trillion KRW, embarking on the construction of the world's safest shipyard.

The company aims to fundamentally improve its safety structure and firmly establish an advanced safety culture by equipping the first-ever comprehensive smart safety system in the shipbuilding industry.

Hanwha Ocean plans to establish itself as the safest shipyard in the world by first creating a culture and system where every member working at its sites can work safely and healthily.

To achieve this, Hanwha Ocean will significantly increase its safety-related budget, planning to invest 1.976 trillion KRW by 2026.

Hanwha Ocean Safety Enhancement Investment Performance and Plans (Unit: 100 million KRW).

The company will expand its regular budget for safety prevention each year, allocating 1.13 trillion KRW over the next three years. This year, it will invest 350 billion KRW, an increase of 28.8 billion KRW from last year's 321.2 billion KRW. In 2025, the budget will be raised to 380 billion KRW, and in 2026, to 400 billion KRW.

To fundamentally improve its safety structure and establish an advanced safety culture, Hanwha Ocean will make an additional investment of 846 billion KRW across six areas over three years. Through this, the company aims to fundamentally resolve potential risk factors in the workplace, implement 'safety-first management,' and realize a 'zero-accident workplace.'

The six areas receiving the additional 846 billion KRW investment are: △ Construction of a comprehensive smart safety system throughout the shipyard (65 billion KRW) △ Proactive replacement of aging facilities and equipment (700 billion KRW) △ Establishment of an advanced safety culture (9 billion KRW) △ Establishment of a safety academy focused on experiential education (50 billion KRW) △ Support for partner companies' safety and expansion of safety personnel (15 billion KRW) △ Regular safety evaluations and improvement of safety management levels through external professional organizations (7 billion KRW). The focus is on fundamentally improving the safety structure and newly establishing an advanced safety culture.

Kim Heecheol, CEO of Hanwha Ocean, stated, "After thoroughly analyzing internal and external feedback and our current safety status, we determined that a comprehensive review of our existing safety management system is necessary," adding, "We intend to conduct a more thorough and fundamental review for safety management."

Kim also emphasized, "We will fully mobilize all available company resources to further strengthen our safety management system by actively accepting internal and external opinions and working closely with external experts and relevant organizations."

Hanwha Ocean Geoje Shipyard.