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The South Korean Ministry of Public Administration and Security has confirmed that for the first time, an additional substitute non-working public holiday would be observed on Wednesday, September 10, 2014, due to the first day of the upcoming Chuseok annual non-working South Korean public holiday falling on a Sunday.
Six years ago (2008-12-09), fifteen lawmakers from South Korea's then governing Grand National Party (GNP) had signed up for a bill which would make the Monday following a Sunday public holiday also a public holiday.
The following year (2009-07-10), then South Korea's Ministry of Strategy and Finance had 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.
Two years later (2011-06-20), the South Korean government had announced that it was examining a stimulus plan which would encourage a "substitute public holiday system" giving the next day off when public holidays overlap or fall on a Sunday.
Then, finally, late last year (2013-12-10), after a year of frenzied rumours and counter-rumours on the topic of "substitute" public holidays in South Korea (2013-05-03, 2013-04-29, and 2013-04-20), the South Korean Ministry of Public Administration and Security finally announced that the long-awaited substitute public holidays system would take effect beginning in the second half of 2014.
The measure applies to government offices only, while private enterprises are left free to follow or not the new substitute public holidays system of South Korea. According to local media reports, about 15-20% of small and medium size businesses plan to observe the upcoming substitute public holiday on September 10, or at least have not ruled-it out yet.
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