SEJONG -- The government plans to provide support to companies in preventing and dealing with industrial hazards, as a new workplace disaster punishment law is set to come into effect this month, officials said Monday.

The law, passed by the National Assembly last year, will go into effect on Jan. 27, under which owners and CEOs of companies with five or more employees can face a minimum one-year prison sentence or up to a fine of 1 billion won ($833,000) in the event of serious workplace disasters.

To help businesses bolster safety measures, the labor ministry said it will create a joint policy committee between government agencies, representatives from labor and management communities, and experts to come up with measures to deal with industrial accidents.

The ministry also plans to offer workplace hazard-related consulting services to 3,500 firms with between 50 and 300 employees.

Companies with high risk of disasters, such as construction firms and major petrochemical industrial complexes in the southwestern city of Yeosu, the southeastern city of Ulsan and central South Chungcheong Province, will come under a government risk monitoring system, the ministry added. (Yonhap)