Government also pushing for cancelled registrations for construction firms with repeated serious industrial accidents
The South Korean government wants profit deductions and registration revocations as stronger punitive measures against firms experiencing repeated fatal workplace accidents, according to reports.
Under a proposed string of measures, the government wants to impose fines of up to five per cent of operating profit on companies that record three or more industrial accident deaths in a single year, The Korea Times reported.
According to the report, the fines will be based on the number of deaths and accidents, while the paid fines will go to preventive measures against industrial accidents.
Additionally, the government wants to revise industry safety law to allow for registration cancellations for construction firms that repeatedly report serious industrial accidents.
Under the plan, companies that are subject to a third business suspension within three years will be eligible for registration revocation.
The stronger measures are aimed at reducing South Korea's industrial accident deaths to the average of 0.29 per 10,000 people by 2030, The Korea Times reported.
The country's current rate is 0.39 per 10,000 people. It has also recorded a total of 589 job-related accident deaths, with nearly half coming from the construction sector, Reuters reported.
"Industrial accidents cause significant losses to the national economy, not only hurting the lives of people but also damaging the productivity of companies," Labour Minister Kim Young-hoon said as quoted by the news outlet.
Meanwhile, Vice Labour Minister Kwon Chang-jun rejected claims that the proposed penalties are excessive.
"There are concerns from businesses about the penalty system, but it's flawed to say the penalty is excessive based on the premise of an accident, when there would be no penalties if preventive measures are taken," the official said as quoted by The Korea Times.
