Image credit: The Maritime Executive.
South Korean shipbuilder Hanwha Ocean has announced a significant investment of $1.3 billion over the next three years to improve safety at its shipyards. This decision comes after a series of fatal accidents and increased scrutiny from the government and labor unions.
Hanwha Ocean acquired Daewoo Shipbuilding & Marine Engineering (DSME) in May 2023. Since then, the company has faced pressure to address safety concerns. The government has conducted inspections and imposed fines, while unions have criticized the company’s safety protocols.
The investment will focus on modernizing equipment, implementing smart safety systems, and providing workers with advanced safety gear. Hanwha Ocean aims to create a safer working environment for its employees.
This investment is a crucial step towards improving safety in the South Korean shipbuilding industry. The industry has faced challenges in recent years, with several fatal accidents and government scrutiny. Hanwha Ocean’s commitment to safety demonstrates its dedication to protecting its workers and maintaining a positive reputation.