President Lee Jae Myung presides over a meeting with senior aides and secretaries at the presidential office in Seoul. (Image courtesy of Yonhap)
SEOUL, Aug. 6 (Korea Bizwire) — President Lee Jae-myung on Wednesday ordered a sweeping investigation and potential punitive measures against POSCO E&C, following a series of fatal industrial accidents at the company’s worksites this year.
Speaking after yet another serious accident at a POSCO E&C construction site left a worker unconscious earlier this week, President Lee directed government officials to thoroughly examine whether safety protocols were properly followed and whether the incident could have been prevented.
He instructed his aides to explore all legally available measures, including the possible revocation of the company’s construction license and bans on public project bidding.
“This is not just negligence. If the same type of fatal accident occurs repeatedly, it’s tantamount to accepting death—and to be blunt, it borders on murder by willful negligence,” Lee said, according to presidential spokesperson Kang Yoo-jung.
Posco Group’s headquarters building in Gangnam, Seoul (image courtesy of Yonhap)
Since January, five deaths have been reported at sites operated by POSCO Group, including four at POSCO E&C and one at its Gwangyang steel plant. The President had previously condemned the company during a Cabinet meeting in July, singling it out for its failure to prevent recurring workplace fatalities.
Following Lee’s criticism, Labor Minister Kim Young-hoon visited POSCO E&C’s headquarters on July 31 to demand urgent safety reforms. POSCO Group subsequently announced a set of measures under what it called a “Safety Management Innovation Plan.” However, the recent accident on August 4 has cast doubt on the company’s efforts, leading POSCO E&C CEO Chung Hee-min to tender his resignation.
President Lee has also called for a review of stronger penalties, including the potential expansion of punitive damages, to prevent further incidents.
“This is not a one-off,” said Kang. “The President has already issued several warnings. With his vacation coming to an end, we can expect a more forceful response soon.”
M. H. Lee (mhlee@koreabizwire.com)
