Samsung Heavy Industries recently announced that it has passed the International Risk Management Standard (ISO 31000:2018) audit by Lloyd’s Register (LR), an international certification body, the first of its kind in the shipbuilding industry.
It is understood that the International Risk Management Standard, developed by the International Organization for Standardization (ISO), is designed to review the ability of organizations to manage the various risks that arise in their medium- and long-term business activities.
The scope of LR’s assessment includes the establishment of risk management standards and systematic response systems, the dissemination of a voluntary risk management culture, and the commitment of top management. Samsung Heavy Industries was awarded for its risk management capabilities to achieve sustainable growth in an uncertain business environment.
In 2014, Samsung Heavy Industries has established a dedicated risk management organization and created a risk management system based on 1,500 vessels built since its establishment. The system ensures that similar risks will not occur throughout the entire process of its entire vessel and offshore projects, from contracting to delivery.
A Samsung Heavy Industries official said, “Risk management is an important factor in determining the success or failure of a project, so this certification has demonstrated that Samsung Heavy Industries has risk management capabilities, which will serve as an opportunity to further solidify the trust of our customers.”
