"Small business owners soon subject to Korea's industrial accidents law," 25 Jan 2024

[...] The Serious Accident Punishment Act, which was enacted for bigger businesses in January 2022, holds employers liable for fatal on-site accidents caused by insufficient safety measures. Employers can face a one-year minimum prison term or a fine of up to 1 billion won ($750,000).

Though larger companies have been subject to the law since 2022, smaller businesses, categorized as those with less than 50 employees, were exempt from the rule for two years due to a lack of human resources and cost concerns.

[...] As a result, about 837,000 small businesses, including local mom-and-pop stores, will be newly subjected to the rule starting this Saturday. Some 8 million employees will be affected.

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