Federation of Korean Industries "Serious Accident Punishment Act Will Cause Side Effects".. Strong Regret Over Passage in Plenary Session

[Asia Economy Reporter Kim Hyewon] The Federation of Korean Industries (FKI) expressed strong regret on the 8th over the passage of the Serious Accidents Punishment Act (Serious Accidents Act) in the National Assembly plenary session.

On the same day, the FKI issued an immediate statement saying, "We express serious concerns about the potential side effects that may arise in the future."

The FKI criticized, "The simultaneous punishment of both primary and subcontractors and the increase in the severity of penalties may violate the constitutional principles of self-responsibility and prohibition of excess, and may cause side effects such as deterioration of management due to a decrease in orders for small and medium-sized enterprises, job losses due to automation replacing subcontracting, and damage to corporate competitiveness due to the contraction of flexible external workforce operations such as contracting."

The FKI pointed out, "It is regrettable that full responsibility and punishment were imposed solely on companies and management without sufficient consideration of the causes of serious accidents and preventive measures, especially when it has been only about a year since the strengthened Industrial Safety and Health Act was implemented."

It then requested, "We hope that the National Assembly and the government will immediately begin discussions to minimize the side effects resulting from the passage of the Serious Accidents Act."

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