This year's average summer vacation 3.8days, vacation allowance paid 53%
According to a survey by the Korea Employers Federation, the average number of vacation days for companies implementing summer vacation this year was reported as 3.8days. Among responding companies, 88.6% said they would grant vacation, and 53% said they would pay vacation allowances, while vacations were found to be concentrated in early 8month.
The Korea Employers Federation announced on 12that in a survey, the average number of vacation days for companies implementing summer vacation this year was tallied at 3.8days. From an investor's perspective, it is a noteworthy data point because changes in demand during the summer peak season and in companies' labor-cost items can affect short-term earnings.
The survey was conducted on companies with 5or more employees nationwide, totaling 674firms.
Among responding companies, 88.6% said they would take summer vacation this year, while the remaining 11.4% were found to use annual leave throughout the year without a separate concentrated period.
By company size, 300companies with 5said they most often chose vacation leave of “more than a day.”
300of companies with 65.5% chose “5more than a day.”
By contrast, 300among companies with fewer than 3days, the most common response was “one day.”
This choice was 48.5%.
Of the responding companies, 53% said they plan to pay this year’s summer vacation allowance.
The timing of vacations was found to be concentrated in 8early in the month, raising the possibility that changes in demand indicators by industry may be observed in connection with fluctuations in demand for airlines, travel, and accommodation during that period.