The South Korean National Assembly's climate, energy, environment, and labor committee has passed an amendment to the Industrial Safety and Health Act aimed at tightening regulations for companies with a high incidence of workplace accidents. Under the new provisions, companies that report three or more fatalities from industrial accidents within a year will face penalties of up to 5% of their operating profits. If a company incurs operating losses, fines could be capped at 3 billion won. This legislative action reflects a growing concern over worker safety amid increasing reports of serious workplace accidents in various sectors.

In addition to financial penalties, the legislation empowers the Minister of Employment and Labor to request the cancellation of a company's registration if it has received three suspensions of business within three years due to serious incidents. Currently, the requirement to cancel registration means that companies must have experienced simultaneous fatalities of two or more workers over three consecutive years—a condition that is rarely met. With the labor ministry already working on legislation to ease the criteria for business suspension requests, the threshold for registration cancellation is expected to be lowered, which could further increase accountability for repeated workplace accidents.

The amendment also includes provisions that ease the conditions for workers to exercise their right to halt work. Previously, workers could stop work only in cases of 'imminent danger', but the new provisions allow for work stoppage when there are just 'reasonable concerns' about potential risks. This change is aimed at empowering workers and enhancing safety protocols by enabling them to act on perceived threats without fear of repercussion. The committee's approval comes amid ongoing discussions about labor rights and safety standards, indicating a shift towards more protective measures for workers in South Korea.