Government also pushing for cancelled registrations for construction firms with repeated serious industrial accidents
The South Korean government wants profit deductions and registration revocations as stronger punitive measures against firms experiencing repeated fatal workplace accidents, according to reports.
Under a proposed string of measures, the government wants to impose fines of up to five per cent of operating profit on companies that record three or more industrial accident deaths in a single year, The Korea Times reported.
According to the report, the fines will be based on the number of deaths and accidents, while the paid fines will go to preventive measures against industrial accidents.
Additionally, the government wants to revise industry safety law to allow for registration cancellations for construction firms that repeatedly report serious industrial accidents.
Under the plan, companies that are subject to a third business suspension within three years will be eligible for registration revocation.
The stronger measures are aimed at reducing South Korea's industrial accident deaths to the average of 0.29 per 10,000 people by 2030, The Korea Times reported.
The country's current rate is 0.39 per 10,000 people. It has also recorded a total of 589 job-related accident deaths, with nearly half coming from the construction sector, Reuters reported.
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