Hanwha Ocean, a leading Korean shipbuilding and offshore company, has unveiled plans to invest 1.97 trillion won ($1.49 billion) over the next three years in an effort to enhance safety at its shipyard facilities. CEO Kim Hee-cheul emphasized the need for a comprehensive overhaul of the current safety management system following a thorough review of safety feedback from internal and external experts, as well as an assessment of overall safety conditions at the shipyards. The initiative includes a three-year regular safety budget of 1.13 trillion won, with incremental increases each year, along with 846 billion won allocated for new investments targeting safety improvements through 2026. The new investment budget has been earmarked for six key areas: implementing smart safety systems, replacing outdated equipment, fostering an advanced safety culture, establishing an experiential safety academy, providing safety support for suppliers, and conducting regular evaluations by external safety agencies. Notable investments include 65 billion won for a smart safety system utilizing artificial intelligence, 700 billion won for equipment replacement, and 9 billion won for a safety program in collaboration with global safety consulting firms. Furthermore, Hanwha Ocean will allocate funds for a safety academy, enhancing safety for partner companies, outsourcing safety evaluations, and implementing strategic tasks recommended by DNV, a Norwegian safety management company, to achieve the highest international safety certification standards.