South Korea to fine companies up to 5% of profit for recurring fatal accidents, ministry says

South Korea to fine companies up to 5% of profit for recurring fatal accidents, ministry says
  • Country:
  • South Korea

South Korea will introduce a new industrial safety regulation that will fine companies with more than three workers dying from accidents at work up to 5% of operating profit, the labour ministry said on Monday.

The government will also revise industrial safety law to strip construction companies, which are repeatedly ordered to suspend work due to fatal accidents, of their licences, the ministry said.

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