No Decline Even After the Enforcement of the Serious Accidents Punishment Act
In the past five years, 113 workers have died from industrial accidents at the top 10 construction companies in South Korea.
According to data submitted by the Ministry of Land, Infrastructure and Transport to Assemblyman Jung Junho (Gwangju Buk-gu Gap) of the National Assembly's Land, Infrastructure and Transport Committee on September 21, a total of 113 fatalities occurred at the top 10 construction companies between 2020 and 2024. As of July this year, 16 people had already died, and the number of fatalities has not decreased even after the enforcement of the Serious Accidents Punishment Act in 2022.
From 2020 to July this year, Daewoo Engineering & Construction recorded the highest number of accident-related deaths with 20, followed by Hyundai Engineering & Construction (19), HDC Hyundai Development Company (18), Hyundai Engineering (14), and POSCO E&C (13). Notably, Hyundai Engineering has already seen six deaths this year alone, and the estimated penalty based on its operating profit for the first half of the year (214.3 billion won) is expected to reach 10.7 billion won. POSCO E&C also recorded nine fatalities last year and this year, and since it posted an operating loss in the first half, it may have to pay the minimum penalty of 3 billion won if it fails to turn a profit by the end of the year.
The industrial accident fatality rate in South Korea remains high by international standards. Last year, South Korea's occupational accident fatality rate (number of deaths per 10,000 workers) was 0.39, significantly higher than Japan (0.12), Germany (0.11), and the United Kingdom (0.03).
Assemblyman Jung stated, "Investment in industrial safety should be regarded not as a cost, but as a core asset that determines the long-term competitiveness of both the nation and companies," adding, "We must expand safety investments to fundamentally reduce industrial accident fatalities."
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