What Is the Reality of Summer Vacations for Gyeongbuk Companies?… 46% Take 3 Days, 55% Have No Vacation Allowance

Survey on the Status of 171 Companies by Gyeongbuk Employers Federation

Companies in the Gyeongbuk region are taking an average of 3.64 days for their summer vacation this year, and 55.2% of them are unable to provide vacation pay, according to a survey.

The Gyeongbuk Employers Federation (Chairman Ko Byung-heon) announced on the 12th that, based on an analysis of the "2023 Gyeongbuk Region Summer Vacation Survey" conducted on 171 businesses with five or more employees in the Gyeongbuk area, 154 companies (90.1%) responded that they have plans to implement summer vacation this year.

Gumi 1 and 2 Industrial Complex Panorama

Regarding the number of summer vacation days this year, "3 days" was the most common response with 71 companies (46.1%), and the average summer vacation length was found to be 3.64 days. Both manufacturing and non-manufacturing sectors most frequently reported taking 3 days off, and 56.8% of the responding companies belong to businesses with 10 to 49 employees.

Three companies reported a decrease in summer vacation days compared to last year, while four companies reported an increase.

Regarding the distribution of summer vacation, 78 companies (50.6%) provide vacation concentrated over a short period (about one week) to all employees, which was the highest response, while 39% of companies offer vacation spread evenly over a relatively longer period (1 to 2 months).

Among the 154 companies implementing summer vacation, 69 companies (44.8%) are providing summer vacation pay in 2023, continuing from 2022, while 80 companies (51.9%) do not provide vacation pay for both last year and this year (planned). This means that 44.8% of companies pay summer vacation allowances this year, while 55.2% do not.

Regarding the economic outlook for the second half of the year compared to the first half, among 171 companies in the Gyeongbuk region, 83 companies (48.5%) predicted the economy would remain at a "similar level," 60 companies (35.1%) expected it to "worsen (significantly or somewhat)," and 29 companies (16.4%) anticipated it would "improve (significantly or somewhat)."

Regarding investment plans for the second half of 2023 compared to the first half, among 171 companies in Gyeongbuk Province, 110 companies (64.3%) expected investment to remain at a "similar level," 33 companies (19.3%) anticipated a "reduction (significant or slight)," and 28 companies (16.4%) expected an "increase (significant or slight)," with a slightly higher proportion expressing negative views.

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