Employment Minister Visits Workplaces with Fewer Than 50 Employees: "Please Participate in the Serious Accident Punishment Act"

On-site Meeting at Sanghyeon Metal in Incheon

Minister Lee Jae-gap of the Ministry of Employment and Labor. / Photo by Kang Jin-hyung aymsdream@

[Asia Economy Reporter Moon Chaeseok] Lee Jae-gap, Minister of Employment and Labor, visited small businesses with fewer than 50 employees on the 21st and urged, "To drastically reduce industrial accidents through the Serious Accidents Punishment Act, the interest and efforts of business owners are essential."

On the day, Minister Lee visited Sanghyeon Metal, a small business in Incheon, and held an on-site meeting where he made these remarks. The meeting was held to listen to the difficulties small and medium-sized enterprises face regarding the Serious Accidents Punishment Act.

The Ministry of Employment and Labor announced that under this year's 'Safety Investment Innovation Project,' it will support 50% (up to 100 million KRW) of the replacement costs for three types of mobile hazardous machinery?mobile cranes, aerial work platforms, and lifts?as well as improvement costs for hazardous and aging processes in root industries for workplaces with fewer than 50 employees.

However, only machines produced before June 30, 2009, when the hazardous machinery certification system was introduced, and that have not received certification are eligible for support.

Business owners can choose between lease or installment payment support through specialized credit finance companies and direct subsidy support from the Korea Occupational Safety and Health Agency, depending on their financial situation.

Applications for support can be submitted starting from the 1st of next month through the computerized system of the 'Safety Investment Innovation Project' operated by the Korea Occupational Safety and Health Agency.

For workplaces with fewer than 300 employees, 200 billion KRW will be provided this year, and approximately 500 billion KRW in industrial accident prevention facility loans will be supported over the next three years. The loan funds are to be used for the installation or replacement of hazardous and dangerous machinery and equipment.

Minister Lee stated, "The government will make thorough preparations to ensure the Serious Accidents Punishment Act can reduce industrial accident fatalities, while also preparing various support measures to help small and medium-sized enterprises secure safety management capabilities."