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2-yr Grace Period to Be Sought for Small Firms from Serious Industrial Accident Penalties

2-yr Grace Period to Be Sought for Small Firms from Serious Industrial Accident Penalties

SEOUL, Dec. 3 (Korea Bizwire) — An additional two-year grace period will be sought for small companies as the workplace safety law punishing employers for serious industrial accidents is set to expand to companies with less than 50 employees, ruling party officials said Sunday. The decision was announced by the ruling People Power Party (PPP) following a consultative meeting among officials from the presidential office, the government and the ruling party at the [...]

Debate Sparks over Grace Period Prior to New Restrictions on Use of Disposable Products

Debate Sparks over Grace Period Prior to New Restrictions on Use of Disposable Products

SEOUL, Nov. 2 (Korea Bizwire) — Controversy is looming over the government’s decision to further restrict the use of disposable products, but allow a one-year grace period to give companies time to prepare. The Ministry of Environment announced Tuesday that it will further restrict the use of disposable products, including plastic bags, at convenience stores [...]

Gov’t to Grant Smaller Firms 1-year Grace Period for 52-hour Workweek Implementation

Gov’t to Grant Smaller Firms 1-year Grace Period for 52-hour Workweek Implementation

SEOUL, Dec. 11 (Korea Bizwire) — South Korea plans to give a one-year grace period to the country’s small and medium-sized enterprises (SMEs) in adopting the 52-hour workweek system, the labor ministry said Wednesday, reflecting financial concerns for the smaller firms amid an economic slowdown. The 52-hour policy was initially devised to cap the average [...]

Bus and Other Industries Given 3-month Grace Period for 52-hour Workweek

Bus and Other Industries Given 3-month Grace Period for 52-hour Workweek

SEOUL, Jun. 20 (Korea Bizwire) — Companies in the bus and other industries, obliged by labor law to implement the 52-hour workweek rule next month, will be given a three-month grace period under a government decision to allow them more time to prepare for a steep reduction in working hours, the labor minister said Thursday. [...]

Gov’t, Party Officials Agree to Introduce 6-month Grace Period for New Shorter Work Week

Gov’t, Party Officials Agree to Introduce 6-month Grace Period for New Shorter Work Week

SEOUL, Jun. 20 (Korea Bizwire) – Senior officials the ruling Democratic Party (DP), the government and the presidential office on Wednesday agreed to introduce a six-month grace period for a new shorter working hours system that is set to go into effect from next month. Under a revised law passed in February, companies with 300 [...]