The regulation for industrial accident rate level assessment of construction companies was introduced to the construction industry in the Republic of Korea since 1993 and has brought positive outcome on industrial accidents reduction at construction work sites. There were considerable decrease of industrial accident ratio and enforcing of contrators' safety organizations from the beginning of the regulation for industrial accident rate level assessment. In spite of these positive outcomes, there were some negative effects such as contractors' shrinking accident reports to keep good accident ratios since these figures had a great impact on pre-qualification stage of bidding when general contractors were competing for new construction projects. In addition, Comprehensive evaluation bid system, which replaces the lowest price bid system is applied to government-ordered construction projects since 2016. Comprehensive evaluation bid system includes construction company's accident rate as one of the evaluation items and carries out with the industrial accident rate level assessment of construction companies at the same time. The regulations of two systems have been called for improvement to unify these different procedures and standards which have led business stakeholders to confusion for several years. This study aims to devote on lessening shrinking accident reports and to reduce the waste of business stakeholders through changing the regulation for industrial accident rate level assessment.