"Preventing Serious Accidents in SMEs"... Up to 80 Billion Won Support from Public and Private Sectors

Up to 48 Billion KRW Funded by Corporate Contributions
Government Resources Match 32 Billion KRW to Replace Aging Facilities

The public and private sectors will provide up to 80 billion KRW in funding to reduce and prevent serious accidents in small and medium-sized enterprises (SMEs).

The above photo is not related to the article. Photo by Hyunmin Kim kimhyun81@

The Korea Federation of SMEs and Agricultural, Fishery Cooperation announced on the 1st that it will sign a memorandum of understanding (MOU) with the Korea Occupational Safety and Health Agency on the 2nd at the Federation's main conference room in Jung-gu, Seoul, to efficiently operate the "Safety Cooperation Support Project (Safety and Health Win-Win Support between Primary and Subcontractors)."

The Safety Cooperation Support Project aims to help improve hazardous processes in manufacturing SMEs and reduce the gap in safety and health management levels between large corporations and SMEs. The government and primary contractors will jointly support part of the investment in safety and health. Through the agreement, the Federation plans to match up to 48 billion KRW from the "Large and Small Business Win-Win Cooperation Fund," contributed by companies, with 32 billion KRW of government funds to enable SMEs to replace outdated or hazardous process equipment or facilities.

Ahn Jong-joo, Director of the Korea Occupational Safety and Health Agency, said, "The MOU has laid the groundwork for primary contractors to participate more actively in strengthening the safety and health capabilities of subcontractors," adding, "We will make every effort to ensure that subcontractors needing process improvements receive timely support through the safety and health win-win support between primary and subcontractors."

Kim Young-hwan, Secretary General of the Federation, stated, "As the Serious Accident Punishment Act has been expanded to apply to all workplaces with five or more regular employees, the importance of preventing industrial accidents has been further emphasized," and added, "We will create various synergistic effects through mutual cooperation with the Agency to strengthen SMEs' capabilities in preventing industrial accidents."

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