Sampyo Group, No.1 under Serious Accident Punishment Act... Invests 20 Billion Won in Safety Infrastructure

On the 11th, officials from the Central Regional Employment and Labor Office of the Ministry of Employment and Labor conducted a search and seizure at the headquarters of Sampyo Industries in Jongno-gu, Seoul, in connection with the quarry collapse accident in Yangju-si, Gyeonggi Province, where three workers died. / Photo by Moon Honam munonam@

[Asia Economy Reporter Kim Jong-hwa] Sampyo Group, which suffered three fatalities in the quarry collapse accident in Yangju, Gyeonggi Province, has decided to invest 20 billion KRW this year to prevent recurrence of accidents and strengthen its safety management system.

According to Sampyo Group on the 22nd, to create a safe working environment, they plan to reinvestigate the safety management system and invest 20 billion KRW this year to establish and expand safety organizations across all affiliates, including Sampyo Industrial. This follows a focused investment of 37.1 billion KRW over the past two years to enhance safety management. They plan to invest 4.7 billion KRW in Sampyo Industrial, 7 billion KRW in Sampyo Cement, and 8.2 billion KRW in other affiliates to expand or establish safety organizations in each affiliate.

Compensation agreements with the bereaved families were also finalized on the 15th. A Sampyo Industrial official explained, "We decided to provide the highest level of compensation to honor the victims who lost their lives in this unfortunate accident and to comfort the grief of their families."

Jung Dae-hyun, the eldest son of Chairman Jung Do-won, the owner of Sampyo Group, is reported to have led the emergency response committee, visited the victims' funeral homes to console the families, and directly handled accident recovery and compensation agreements with the bereaved families. Sampyo Group plans to honor the deceased through memorial services and remembrance projects going forward.

On the 29th of last month, three workers died in a soil collapse accident at the quarry of Sampyo Industrial's Yangju business site in Gyeonggi Province. Following this accident, CEO Lee Jong-shin of Sampyo Industrial was booked as the first suspect under the Serious Accident Punishment Act. On the 21st, the Ministry of Employment and Labor launched a special inspection of five quarries, two ready-mixed concrete plants, and two mortar plants operated by Sampyo Industrial nationwide to check compliance with safety and health regulations.

A Sampyo Group official said, "Through this special inspection, we will reexamine the on-site safety management manuals at all business sites nationwide and promptly implement safety measures by immediately correcting any deficiencies."

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