HD Hyundai Heavy Industries Receives First Defense Cost Management System Certificate for Naval Vessels

[Financial News] HD Hyundai Heavy Industries announced on the 29th that it has received the "Defense Cost Management System Certificate" for the first time in the naval vessel sector, organized by the Defense Acquisition Program Administration's Defense Industry Promotion Bureau.
The defense cost management system certification system is a system implemented by the Defense Acquisition Program Administration since 2012 to ensure fair and transparent cost management of defense materials. If a defense company receives this certification, it can receive additional profit as an incentive for defense materials.
To obtain certification, the cost information managed by the defense company's Enterprise Resource Planning (ERP) system must be automatically transmitted to the Defense Integrated Cost System. Through this, cost data related to contracts above a certain amount must be submitted faithfully.
Since the implementation of the certification system in 2012, 12 companies in the land and air sectors have been certified. In the naval vessel sector, HD Hyundai Heavy Industries is the first to obtain certification.
HD Hyundai Heavy Industries established a management system in 2024 to enhance the transparency and efficiency of cost management. It has also been providing consulting and education to partners for securing defense cost capabilities and system establishment.
A representative from HD Hyundai Heavy Industries stated, "This certification is expected to contribute to improving the reliability and competitiveness of K-vessels in the domestic and global naval vessel markets," adding, "It is significant not only for securing additional profit but also for being recognized for transparent and systematic cost management by national institutions."  


ggg@fnnews.com Kang Gu-gwi Reporter