Democratic Party's Jang Cheol-min Proposes Industrial Safety Act with Up to 10 Billion KRW Fine... Co-proposed by Policy Chair Han Jeong-ae

[Asia Economy Reporter Park Cheol-eung] Jang Cheol-min, a member of the Democratic Party of Korea, has proposed a bill to impose fines of up to 10 billion KRW for fatal industrial accidents. The Democratic Party plans to discuss this alongside the Serious Accident Corporate Punishment Act in each standing committee.

Rep. Jang stated, "By imposing an obligation on CEOs to verify key safety and health measures at workplaces, it will be easier to prove intentionality in the event of industrial accidents, strengthen penalties for fatal accidents caused by violations of safety and health obligations, and allow fines to be imposed on corporations." He officially proposed the amendment to the Industrial Safety and Health Act on the 17th. In addition to Rep. Jang, 11 other Democratic Party lawmakers co-sponsored the bill, including Han Jeong-ae, chair of the Democratic Party Policy Committee.

According to the bill, the Minister of Employment and Labor may impose fines of up to 10 billion KRW if an industrial accident caused by violations of safety and health obligations by employers or contractors results in the simultaneous death of three or more workers, or if three or more workers die within one year.

The criteria for imposing fines will be determined by Presidential Decree, taking into account the size of the company, sales revenue, type and degree of violation, and the consequences of the industrial accident.

Additionally, the bill stipulates an obligation for CEOs to verify matters related to the occurrence and prevention measures of serious workplace accidents and supervisory points raised by labor inspectors, with a fine of up to 10 million KRW for failure to verify. In cases of fatal accidents, the minimum fine is set at 5 million KRW for individuals and 30 million KRW for corporations.

This content was produced with the assistance of AI translation services.