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http://dx.doi.org/10.7842/kigas.2012.16.6.80

Cost-Benefit Analysis of Risk Assessment Regulation in Manufacturing Industries  

Lee, Gibaek (Dept. of Chemical and Biological Engineering, Korea National University of Transportation)
Baek, Jong-Bae (Dept. of Safety Engineering, Korea National University of Transportation)
Publication Information
Journal of the Korean Institute of Gas / v.16, no.6, 2012 , pp. 80-86 More about this Journal
Abstract
From 1982, the Korean Ministry of Employment and Labor has executed the risk assessment regulation for manufacturing industries. When a manufacturing company install, transfer, or modify the major facilities, the program inspects and verifies safety of the working place to ensure safety against risks. This study performed cost-benefit analysis of the program for the eight industrial categories that were free from the program. The cost-benefit analysis is the basic method to estimate the effect of the policy execution, and used to justify the policy effectiveness. As a result, there is the biggest benefit in the manufacture of basic metal products and then motor vehicles, trailers and semitrailers, other manufacturing, other machinery and equipment, wood products of wood and cork, rubber and plastic products, food products, furniture in order. Thus the hazard prevention program should be applied into the 8 industrial categories in order to strengthen national competitiveness, protect labors's safety, reduce the social cost and improve the welfare.
Keywords
risk assessment regulation; cost-benefit analysis;
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