South Korean Small Businesses Face Closure as Major Disaster Law Expands: National Assembly Criticized

South Korean Small Businesses Face Closure Amid Expansion of Major Disaster Law

National Assembly Criticized for Neglecting Livelihood Bills

Small businesses in South Korea are at risk of closure as the major disaster law is expanded without exceptions or grace periods. The National Assembly has come under criticism for neglecting key bills related to people’s livelihoods.

The major disaster law, which punishes managers responsible for major disasters resulting in injuries or deaths, is set to be applied to businesses with 5-49 employees. However, concerns have been raised about the practical compliance preparation of small and medium-sized enterprises.

Despite the urgent need for discussions and revisions, the ruling and opposition parties have failed to make progress on the revision bill, resulting in the bill’s failure to pass in the recent parliamentary session.

Economic organizations have criticized the National Assembly for neglecting important bills and not prioritizing the well-being of the people. Labor groups argue that the law should be enforced without further delay.

Small businesses, especially those with less than 50 employees, are facing closure as they are unable to adequately prepare for the implementation of the major disaster law. The arrest of business owners further exacerbates the situation.

It is crucial for the National Assembly to address key bills related to people’s livelihoods and provide support for small businesses. The economic well-being of the country depends on the government’s proactive actions and effective legislation.

As the major disaster law takes effect, it is essential for small businesses to receive the necessary guidance and support to comply with the law. Adequate resources and personnel should be allocated to ensure a smooth transition and prevent unnecessary closures.

In the face of economic challenges and the impact of the major disaster law, it is crucial for the government and the National Assembly to prioritize the needs of small businesses and work towards creating a supportive environment for their growth and sustainability.

As the news unfolds, it is important for all stakeholders to engage in constructive dialogue and find solutions that balance the safety of the public with the survival of small businesses. The future implementation of the law requires further discussions and considerations from the political sphere.

Source: Donga Ilbo