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Source: Chosun Ilbo (Seoul)
South Korea's Ministry of Strategy and Finance has announced that, together with the Ministry of Public Administration and Security, it would consider implementing compensating day in lieu public holidays when a public holiday falls on a weekend.
According to the current proposal by the Ministry of Strategy and Finance, when a statutory public holiday occurs on a Saturday or Sunday, it would be made up on the previous Friday or following Monday.
There would be an exception for companies of fewer than 20 employees, where only Sunday public holidays would be compensated, as these companies were exempted from the July 2005 changeover from a 6-day to a 5-day workweek (04-Sep-2003).
This latest proposal echoes one made, last year, by lawmakers from South Korea's governing Grand National Party (GNP), who introduced a bill which would make the Monday following a Sunday public holiday a public holiday (09-Dec-2008).
The subject of the compensation of weekend public holidays comes back to the fore, following the 2005 report by South Korea's Astronomy and Space Science Institute that, for the period 2006-2018, at least one of the two extended South Korean public holidays, Chuseok and the Lunar New Year, will fall on a weekend, with both extended public falling on a weekend in 2009 and 2012 (14-Sep-2005).
Related links:
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South Korea bank holidays and public holidays (current
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• South Korea bank holidays and public holidays (news and updates)
• Worldwide
bank holidays and public holidays news updates (July 2009)
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South Korea To Review Weekend Public Holidays Rules