The ruling People Power Party(PPP) is attempting to convince the opposition to pass a reduced grace period extension of the workplace accident law for businesses with fewer than 50 employees after the original deferment expired on Saturday.

Speaking to reporters on Tuesday, PPP floor leader Yun Jae-ok said there is a need to respond to difficulties due to a lack of readiness at smaller industrial sites by extending the grace period, even if a reduction from the previously suggested two years is necessary to pass.

The ruling party had earlier proposed a one-year extension for businesses with fewer than 30 or 25 employees.

As for the main opposition Democratic Party's(DP) precondition that a state agency overseeing industrial safety be established, the floor leader said the opposition is also well aware that it would be nearly impossible to make a decision on a new state institution in just several days.

While the PPP has suggested that the new extension bill be handled in Thursday's plenary session, National Assembly Speaker Kim Jin-pyo has pledged to attempt to mediate between the two rival parties.

Under the act, enforced since 2022, business owners face a minimum one-year prison term or a fine of up to one billion won, or around 750-thousand U.S. dollars, upon the death or serious injury of an employee in the workplace.