South Korean President Yoon Suk-yeol has urged the National Assembly to delay the implementation of the Serious Accident Punishment Act for businesses with fewer than 50 employees. In a Cabinet meeting on Jan. 16, Yoon expressed concerns about the imminent expansion of the act to smaller businesses from Jan. 27. He highlighted the apprehensions of small and medium-sized enterprises (SMEs), comparing their situation to being “pushed onto thin ice.”

While Yoon emphasized the importance of workers’ safety, he argued that punitive measures alone are not the solution. He advocated for punishments based on clear responsibility principles, in line with the ROK Constitution. Stressing the current economic challenges faced by SMEs, including high interest rates and inflation, Yoon warned that additional burdens could make it more challenging for small businesses to survive.