SME Association Appeals to "Halt Enactment of Serious Accident Corporate Punishment Act"

Five Organizations Including Korea Federation of SMEs Visit National Assembly Floor Leaders Kim Tae-nyeon and Joo Ho-young

Kim Ki-moon, President of the Korea Federation of SMEs (fifth from the left), conveying the positions of small and medium-sized enterprise organizations to Kim Tae-nyeon, Floor Leader of the Democratic Party of Korea (fourth from the left).
[Photo by Korea Federation of SMEs]

[Asia Economy Reporter Kim Jong-hwa] On the 4th, five small and medium-sized enterprise (SME) organizations, including the Korea Federation of SMEs, the Korea Specialty Contractors Association, the Korea Mechanical Equipment Construction Association, the Korea Federation of Micro Enterprise Associations, and the Korea Management Innovation SME Association, visited Kim Tae-nyeon, the floor leader of the Democratic Party of Korea, and Joo Ho-young, the floor leader of the People Power Party, to express the SME sector's serious concerns about the Serious Accidents Punishment Act and appealed for the suspension of its enactment.

The visit was urgently made to once again convey the SME sector's earnest plea regarding the Serious Accidents Punishment Act.

Kim Ki-moon, chairman of the Korea Federation of SMEs, conveyed the voices from the field, saying, "Due to the subcontracting structure and poor financial conditions, SMEs inevitably find themselves at the intersection of all accidents," and added, "With 99% of SMEs having owners as representatives, imposing a minimum of two years imprisonment on business owners is tantamount to telling SMEs not to do business, which has led to lamentations."

He also emphasized, "The level of accident punishment in our country is already the highest in the world, and what is needed to protect human life and safety are detailed on-site guidelines," adding, "Discussions to properly prevent industrial accidents should take priority even now."

Chairman Kim further stated, "If enactment is inevitable, at least only repetitive fatal accidents should be handled under the Serious Accidents Punishment Act, and companies that have clearly fulfilled their prescribed obligations should be exempt from punishment," adding, "Referring to cases like the UK, SMEs should be given opportunities to prevent other accidents without having to close their doors."

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