"Actively Use Annual Leave and Travel Domestically" - Korea Employers Federation Recommends Participation in Domestic Demand Revitalization

The Korea Employers Federation announced on the 3rd that it has recommended its member companies to actively cooperate in boosting domestic demand through promoting the use of annual leave by workers and encouraging domestic travel.

To restore consumer sentiment weakened by high inflation and other factors, the Federation sent a recommendation letter to companies for the first time in six years since 2017, asking them to actively participate in revitalizing domestic consumption.

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First, it recommended actively utilizing annual leave. In particular, it requested companies to promote local festivals within the workplace and encourage workers to use their leave for domestic travel or local consumption. It also asked companies to make efforts to hold training sessions or educational programs domestically whenever possible.

Depending on individual company circumstances, it requested exploring ways to provide part of the vacation expenses as vouchers for domestic accommodations or local tourism products through labor-management consultations. It also urged efforts to support small and micro businesses struggling due to sluggish domestic demand.

Ha Sang-woo, Head of the Economic Research Division at the Korea Employers Federation, said, “This recommendation is part of follow-up measures to the statement on the government’s domestic demand revitalization plan announced on the 29th, in which we stated that the Federation would strive to spread this plan to industrial sites through fostering an atmosphere that promotes the use of annual leave and achieve positive effects.” He added, “We will continue to make efforts to discover various ways for our companies to participate in boosting domestic demand.”

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