The Dong-a Ilbo reported comments made by Mr. Yong Moon Kim of Lee & Ko at the Major Accident Punishment Act seminar hosted by the Federation of Korean Industries on January 27, 2021.
According to Mr. Kim, "while the focus of the Occupational Safety and Health Act is on preventing occupational accidents and promoting safe and healthful working conditions, the Serious Accidents Punishment Act focuses on the punishment as the title of the act indicates," and that "companies should be ready for regulations stricter than the Occupational Safety and Health Act in relation to the punishment of the business owner, managerial responsibility holder (as defined in the Major Accident Punishment Act), the imposition of corporate fines, punitive damages, and other penalties."