As a reaction to several accidents in waste storage facilities, the Korean National Assembly passed an an Amendment to the Korean Waste Control Act on March 28, 2019. The amendment puts in place, a more transparent measures and rules for waste-storage facilities.
Major Amendments to the Korean Wastes Control Act
- Set of safety measures for waste-collecting vehicles.
- More specific safety rules for waste-storage facilities.
- Implementation by the Korean Ministry of Environment to conduct an annual safety inspection and survey on waste treatment business facilities.
Violation of Safety Measures as per the Amended Waste Control Act
A violation of these safety regulations can result in a partial or total suspension of the waste business operations of the concerning company. Additionally, shareholders and directors may be criminally punished for up to two years or a fine of up to KRW 20,000,000.
If you are interested in learning more about these laws or opportunities in the Waste Disposal Business in Korea, please schedule a call with an attorney at IPG.
- Korea Focuses on Greater Control over Imported Food – Amendment to the Special Act on Imported Food Safety Control 2019
- Amendment to Korea’s Occupational Safety and Health Act in 2019
- Korea’s Occupational Safety and Health Act Amendments for 2018 (OSHA Korea Updates)
- Safety Measures in Korean School Buses in Korea via the Amended Road Traffic Act of Korea
- The Amendment to the Korean Pharmaceutical Affairs Act 2019
- Korean Data Privacy Act: Need for Compliance Audit for your Korean Company
- New Provisions regarding the Korean Act on Reporting and Using Specified Financial Transaction Information
- Korea Amends the Act on the Employment, etc. of Foreign Workers in 2019: Employment Law Updates
- Korea’s Real Name Transaction Act Strengthened: Korea’s Banking Law Basics
- Starting a Company in Korea: Establishing a Foreign Capital-Invested Korean Company, Branch or Liaison Office