The government will suspend operation of builders that continuously report industrial accident deaths by requesting the cancellation of their registration.

The labor ministry on Monday pledged to reduce the proportion of deaths from industrial accidents from the current zero-point-39 for every ten-thousand to the Organization for Economic Cooperation and Development average of zero-point-29 for every ten-thousand by 2030 as part of a comprehensive plan on labor safety.

Builders that have been suspended twice in the past three years would, upon receiving a third request, become subject to deregistration review. 

Deregistration bars a company from all business activities, including the launch of new projects and winning of orders.

Corporate bodies reporting at least industrial accident deathsa year would face a penalty of up to five percent of their operating profit, with a minimum fine of three billion won, or around two-point-two million U.S. dollars.

The central government will also work with municipal governments and the private sector to supervise the execution of such measures, expanding the number of central and regional government industrial safety supervisors by approximately three-thousand by 2028.