The government will invest 1.5 trillion won to ensure industrial safety for small companies with fewer than 50 employees. (Image courtesy of Yonhap)
SEOUL, Dec. 27 (Korea Bizwire) — The government will invest 1.5 trillion won (US$1.16 billion) to ensure industrial safety for small companies with fewer than 50 employees, officials said Wednesday.
The plan was announced as the government and the ruling People Power Party are seeking an additional two-year grace period for such small firms from the workplace safety law punishing employers for serious industrial accidents.
The law went into force in January 2022 for firms with 50 or more employees and is scheduled to be extended to smaller companies next month, excluding those with fewer than five employees.
Under the law, business owners or CEOs of companies are subject to at least one year in prison or up to 1 billion won in fines in the event of deadly on-duty disasters caused by lax workplace safety measures.
Under the plan, the government will conduct safety inspections on companies that employ between five and 49 workers, which amount to some 837,000 nationwide.
The government will also assist these firms in enhancing their workplace safety management and working environments by providing safety management consulting, as well as workforce and equipment support.
By expanding education and other support measures, the government plans to nurture 20,000 workers specializing in industrial safety management by 2026, the officials also said.
(Yonhap)
