[Asia Economy Reporter Woo Su-yeon] The Federation of Korean Industries (FKI) expressed concerns on the 28th regarding the passage of the Enforcement Decree of the Serious Accidents Punishment Act at the Cabinet meeting and requested practical supplementary measures to ensure compliance with the decree.
On the same day, the FKI stated, "Despite the earnest requests from the business community, we express concern that the draft Enforcement Decree passed the Cabinet meeting without resolving ambiguities," adding, "The unclear regulations, which reduce predictability, are expected to increase confusion at industrial sites, as well as cause serious side effects such as business contraction and unnecessary lawsuits."
They continued, "To prevent well-intentioned businesspeople from suffering unjust damages, we hope the government and the National Assembly will continue efforts to clarify the safety and health measures. Additionally, considering the realistically necessary preparation period for compliance with the Serious Accidents Punishment Act, we ask that measures such as granting a grace period be reviewed."
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