"Is There an Extra Day Off This Christmas?"

"To Boost Domestic Demand and Guarantee Rest Rights, Substitute Holidays Must Be Increased"
Amendment Procedure for Enforcement Decree Needed...Possibility of Increasing Next Year's Holidays from 13 to 15 Days

[Asia Economy Reporter Park Hyun-joo] This weekend, Christmas falls on a Sunday. Will the introduction of the substitute holiday system allow for an extra day off? As political circles propose expanding substitute holidays, office workers' expectations for 'work-life balance' are growing.

Since the process of revising the enforcement decree takes time and opposition from small and medium-sized enterprises is expected, the expansion of substitute holidays is likely to take effect starting next year.

On the 20th, Joo Ho-young, floor leader of the People Power Party, officially proposed to the government to include Christmas and Buddha’s Birthday as designated substitute holidays during a floor strategy meeting.

Floor leader Joo explained, "This Sunday (the 25th) is Christmas. If it were not Sunday, it would be a public holiday allowing a day off, but unfortunately, this year it is not. Christmas and Buddha’s Birthday are not national holidays, so they are excluded from substitute holiday designation." He continued, "Starting next year, Christmas and Buddha’s Birthday, which are public holidays but not national holidays, should also be designated as substitute holidays."

[Image source=Yonhap News]

Floor leader Joo claimed that since the introduction of the substitute holiday system, there has been a clear domestic demand stimulation effect in sectors such as distribution, travel, and dining.

According to a 2020 report by Hyundai Research Institute titled 'Economic Ripple Effects of the August 17 Temporary Holiday Designation,' the production inducement amount on the day of the temporary holiday reached 4.2 trillion won, and the value-added inducement amount was 1.63 trillion won. This estimate assumes the temporary holiday applies to half of the total population.

Guaranteeing citizens' right to rest is also a major reason for this proposal. Floor leader Joo asserted, "After introducing the substitute holiday system, the rest enjoyed by the people has been evaluated as much more effective."

In July last year, the National Assembly passed the 'Public Holidays Act,' which applies substitute holidays to all public holidays that overlap with weekends. Originally, the substitute holiday system applied only to Lunar New Year, Chuseok holidays, and Children’s Day, but starting this year, it has been expanded to include national holidays such as Independence Movement Day, Liberation Day, National Foundation Day, and Hangul Day. The ruling party’s proposal is to also consider expanding substitute holidays to New Year’s Day, Christmas, and Buddha’s Birthday.

Civilians generally respond favorably. There is anticipation that a much-needed holiday will appear at the end of this year, which had no holidays after National Foundation Day (Monday, October 3) and the substitute holiday for Hangul Day (Monday, October 10). Both the upcoming Christmas and New Year’s Day fall on Sundays, and excluding weekends, there are no days off until the Lunar New Year holiday (January 21?24).

However, the expansion of substitute holidays is likely to take effect starting next year. To expand the designation of substitute holidays, the government must hold a Cabinet meeting to review and approve amendments to the regulations concerning public holidays, and with Christmas only five days away, time is tight. If the government revises the enforcement decree as proposed by the ruling party, the number of public holidays next year will increase from 13 to 15 days.

Opposition from small and medium-sized enterprises is also expected to cause difficulties in the enforcement decree revision process. The Korea Federation of SMEs issued a statement during the enactment of the 'Public Holidays Act' last year, arguing that due to production disruptions caused by reduced working hours and rapid increases in labor costs, "the expansion of substitute holidays should be minimized."

This content was produced with the assistance of AI translation services.