[Legal Talk] "South Korea's Serious Accidents Punishment Act in the Biopharma Industry" (partnering with Korean Pharmaceutical and Biopharma Manufacturers Association)

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From the 27th of January, 2024, the application of the 'Serious Accident Punishment Act' in South Korea has been finally expanded to workplaces having just 5 to 50 employees.

The Serious Accident Punishment Act is a law that punishes people in management for more than a year of imprisonment or fines up to 1 billion won if a serious disaster, such as a fatal accident occurs due to negligence in ensuring safety at the workplace. Since its enactment in 2021, it has been implemented for workplaces with 50 or more employees from January 2022.

It is understood that many small pharmaceutical companies have not been fully prepared for the implementation of the Serious Accident Punishment Act; and that most of them have difficulties appointing safety management personnel. 

Since there has been a high interest in the application of this Act in many small to mid-size pharmaceutical or life science companies in Korea, I have collaborated with the 'Korea Pharmaceutical and Bio-Pharma Manufacturers Association' to create an educational video (link below) covering the legal issues, cases of lawsuits, overseas situations, and pharmaceutical industry's countermeasures in South Korea. 


Youtube Video Link: Serious Accident Punishment Act in the BioPharma Industry




Location: Seoul, South Korea

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