Govt to mull nine-day ‘golden’ holiday in May

2017.01.10 14:26:44 | 2017.01.11 09:50:15
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The South Korean government will consider designating two temporary holidays in May this year to create a nine-day ‘golden’ holiday week in an effort to boost domestic consumption critical for economic growth, the labor minister said Monday.

Labor minister Lee Ki-kweon released the plan, saying the government could designate May 2 and 4 as temporary holidays to bridge Labor Day (May 1), Buddha`s Birthday (May 3) and Children`s Day (May 5) holidays. This plan would allow people to take up to nine days off in a row from late April.

“To designate May 2 and 4 as temporary holidays, we will need approval from the home affairs ministry and other relevant ministries, as well as the cooperation from the industry and labor unions,” Lee said.

A temporary holiday is designated at the request of relevant ministries, with approval from the Cabinet and the president. The ministry expects a long holiday in May will have a great impact on boosting domestic consumption.

Last year, the government designated May 6 as a temporary holiday to create a four-day weekend, while introducing various measures to encourage spending. Sales at department stores grew 16 percent in the period from a year ago with a 70 percent rise in ancient palace visits and 9 percent in traffic volume.

“The government will also encourage businesses to join efforts, allowing workers to implement substitute holidays for the first week of May,” Lee added.

By Seo Dong-cheol

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]

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