Industrial workplace accidents in South Korea cost 29 trillion won in 2020, up 8.5 percent on-year, which the country seeks to reduce with a new law heavily punishing employers for workplace disasters beginning next year.
There were 474 deaths from industrial accidents in the first half of 2021, up by four from the previous year.
Under the Serious Accident Punishment Act (SAPA), owners or CEOs of businesses that suffered industrial disasters due to lax workplace safety measures can be sentenced to at least one year in prison or up to 1 billion won in fines.
A Serious Industrial Accident under SAPA involves any death, injury, or illness caused by work-related structures, equipment, raw materials, gas, steam, dust, or caused in the course of performing works or other duties.
Meanwhile, SAPA classifies the Serious Public Accident as death, injury, or illness caused by a defect in design, manufacture, installation, or management of certain raw materials or products, public facilities, or public transportation means.


BOJ Flags Import Costs and Yen Shocks as Persistent Inflation Risks
Finland Raises 2026 Growth Forecast as Exports and Investment Surge
US Weighs New Sanctions Against Brazil Supreme Court Justice Alexandre de Moraes
Maduro Seeks Dismissal of US Drug Trafficking Charges
Gold Prices Steady as Oil Disruptions Boost Fed Rate Hike Bets
Ecuador Court Convicts Ex-President Lenin Moreno in Bribery Case
Bashar al-Assad Sentenced to Death by Syrian Court
Oil Prices Surge as Houthi Attacks Raise Saudi Supply Fears
Treasury Buyback Fails to Cool Long-Term Yields
SEC Sues Former Tricolor Executives Over $1.9 Billion Investor Fraud Scheme
Sara Duterte Posts Bail Over Grave Threats Case
Judge Blocks Trump Rule Limiting Foreign Student Visas
Nvidia-Groq AI Chip Deal Faces U.S. Antitrust Probe
US Judge Dismisses Imran Ahmed Deportation Lawsuit
Honduras Court Drops Charges Against Ex-President Juan Orlando Hernandez
UK Wage Growth Slows as BoE Rate Decision Looms
OpenAI Rejects Apple Trade Secret Theft Claims 



