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Safety Investment Innovation Program

Purpose

  • The program involves unannounced patrol and checks of sites, works, and machinery and facilities with high risks of fatality to raise awareness of necessary sanctions against risky workplaces, and thereby to help reduce fatalities.

Features

  • Application
  • Eligibility and process
  • - Eligibility: A business or employer hiring fewer than 50 full-time workers with workers’ compensation insurance policies.
  • - Risky equipment to be replaced: (1) Mobile cranes (manufactured on or before September 30, 2009); (2) aerial work platforms (manufactured on or before June 30, 2009); (3) retractable lifts.
  • - Processes to be replaced: (1) Work sites classified as ppuri industries under the Korean Standard Industrial Classification (KSIC); (2) manufacturing work sites that feature ppuri processes (casting, molding, surface treatment, etc.) and that wish to reduce the risks and dangers thereof.
  • - How to apply: Each business or employer shall prepare all the required documents* and submit them via the Safety Investment Innovation Program Administration System./li>
  • Scope of support
  • - The program subsidizes 50 percent, or up to KRW 100 million, of the cost necessary to acquire/manufacture/install new equipment, ensure compliance with the applicable laws (documentation and evaluation), and dismantle/remove existing equipment.
  • Selection and contracting
  • Selection
  • - Businesses or employers selected for evaluation according to the predefined criteria of prioritization* are subjected to financial evaluation, on-site evaluation, cost evaluation, and approval review before they are finally selected for the subsidy.
  • ※ The criteria involve the manufactured dates and years of service on risky equipment; the industries of the ppuri processes and levels of risks involved; and the financial need of businesses applying those processes.
  • Contracting
  • - Businesses selected for the program are required to obtain performance guarantee insurance policies* and present them at the time of contracting for the subsidies.
  • ※ The insurance should cover four years since the date on which the business requests contracting (including the three years of follow-up checks).
  • - The contract defines the terms and responsibilities of both parties involved, including the schedule and deadline for the equipment/process change, the schedule for subsidy payment, the recall and settlement of the subsidy, and the provision of safety and health information.
  • Execution of investment
  • - Each business is required to make the investment necessary to manufacture/acquire/replace the necessary equipment according to the business plan it has submitted within four months following the contracting date (or within five months, where applicable).
  • Follow-up evaluation
  • Completion of investment
  • - Each business is required to prepare the report on the completion of investment, along with a detailed breakdown of the cost incurred, and upload them onto the Safety Investment Innovation Program System to apply for the subsidy.
  • - Each business that applies for the subsidy is subjected to on-site and cost evaluations.
  • - Businesses that pass on-site evaluations and whose breakdowns of the costs are accepted are approved and confirmed, at once, by the KOSHA to have completed their investments.
  • Subsidization
  • - The KOSHA pays the approved businesses the subsidies (minus the amounts of value-added taxes) as agreed under contracts.
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