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Ministry of Employment and Labor (Photo: Yonhap News) |
[Alpha Biz= Kim Jisun] In response to a recent string of fatal industrial accidents, the South Korean government is reviewing measures to strengthen penalties, including allowing business suspensions even when a single worker dies on the job. Currently, such suspensions can only be requested when two or more fatalities occur simultaneously.
According to government sources on August 7, the Ministry of Employment and Labor and other related agencies are discussing various regulatory reforms, including revisions to the Occupational Safety and Health Act. In particular, construction companies could face harsher penalties such as license revocation and punitive damages.
Under the current law, the Minister of Employment and Labor can only request a business suspension if "two or more workers die in the same accident." As a result, companies like POSCO E&C—which has had four separate fatal accidents this year—have avoided such penalties due to the lack of simultaneous deaths.
The Office of the President has also acknowledged the need for legal revisions. Presidential spokesperson Kang Yu-jung stated in a briefing, “We are reviewing legislative shortcomings that limit accountability for repeated fatal accidents,” adding that “punitive compensation systems are also under review.”
알파경제 Kim Jisun (stockmk2020@alphabiz.co.kr)
