South Korea mandates accident disclosure for firms with over 500 employees

Starting next month, South Korean companies with 500 or more regular employees, and those undertaking construction projects valued at over 120 billion won, must publicly disclose their industrial accident and fatality records. This new regulation, stemming from an amendment to the Industrial Safety and Health Act, aims to enhance transparency and encourage self-regulation.

The disclosed information will include the number of fatalities and injuries from industrial accidents and diseases over the past year, along with plans for preventing recurrence. Companies must submit this data to the Ministry of Employment and Labor in the first half of the following year. The ministry plans to create a public website to display these records, making them accessible to citizens and investors alike. Failure to comply with disclosure requirements can result in fines of up to 10 million won.

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We aim to confirm industrial accident status and encourage companies to establish their own recurrence prevention measures. We will disclose company-specific data so that everyone from ordinary citizens to corporate investors can check it.

The regulations extend to accidents involving subcontractors and fatalities on public construction sites. A ministry official stated the goal is to allow companies to identify accident trends and develop preventative measures, with the information being publicly available for scrutiny. Furthermore, the system for honorary industrial safety supervisors is being strengthened, allowing broader participation beyond companies with established safety committees.

Penalties for failing to conduct risk assessments have also been clarified, with fines escalating for repeat offenses, reaching up to 10 million won for a third violation. The scope of businesses subject to mandatory safety improvement plans has been expanded to include those experiencing two or more fire, explosion, or collapse incidents within a year. This measure is intended to drive systematic improvements in workplaces with recurring safety issues.

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For workplaces where repeated industrial accidents occur, the Minister of Employment and Labor can order the establishment of a safety and health improvement plan to induce systematic improvement effects.