Oh Young-joo, nominee for Minister of SMEs and Startups, stated on the 21st that a two-year grace period is necessary for the application of the Serious Accidents Punishment Act to workplaces with fewer than 50 employees.
During the confirmation hearing held by the National Assembly's Industry, Trade, and SMEs Committee, Oh responded to a question from Lee Jang-seop, a member of the Democratic Party of Korea, saying, "Many workplaces are not prepared," and expressed this view.
The Serious Accidents Punishment Act punishes business owners and management officials who fail to fulfill accident prevention duties when serious accidents such as deaths occur at workplaces with 50 or more regular employees (or construction projects worth 5 billion KRW or more). Although the law was enacted on January 27 last year, its application to small and medium-sized enterprises with fewer than 50 employees was deferred for two years. With the grace period set to expire on January 27 next year, the SME sector is currently requesting an extension.
Oh stated, "A grace period is not the answer for the Serious Accidents Punishment Act," adding, "During the grace period, policies such as consulting should be prepared to help companies with fewer than 50 employees properly prepare."
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