President Yoon Suk Yeol expressed deep regret Friday after the opposition-controlled National Assembly failed to pass a bill giving small businesses an additional two-year grace period from the workplace safety law penalizing employers for serious industrial accidents.

Under the Serious Accidents Punishment Act, company owners or CEOs with 50 or more employees face a minimum of one year in prison or fines up to 1 billion won (US$749,000) in cases of fatal on-duty disasters caused by inadequate workplace safety measures. Following a two-year grace period, the expanded application of the law to businesses with fewer than 50 employees is scheduled to begin Saturday.

The ruling People Power Party (PPP) and the main opposition Democratic Party (DP) had negotiated a revised bill aimed at postponing the implementation for another two years but were unable to reach an agreement before the plenary session Thursday.

“I express strong regret for the opposition party’s irresponsible actions, which overlook the challe
nges faced by small and medium-sized businesses and the economy related to people’s livelihoods,” Yoon was quoted by presidential spokesperson Kim Soo-kyung as saying.

Yoon also emphasized the need to seek support measures essential for small businesses facing the threat of survival.

Despite the law’s intended purpose to guarantee workers’ safety, concerns have been raised as the number of on-duty disasters has not decreased since the law took effect and that it lacks clarity in defining the criteria for punishment.

The PPP and owners of companies with fewer than 50 employees — constituting about 80 percent of all serious accidents — have demanded an additional grace period. They have cited the lack of preparation due to limited conditions, such as an economic downturn triggered by the COVID-19 pandemic, as well as the fact that the incrimination of an employer can eventually lead to business closure.

The DP and the labor circle, meanwhile, stated that the government has wasted the last two years withou
t suggesting a detailed road map and failed to come up with measures to protect the workers.

Source: Yonhap News Agency