Companies' summer vacation averages 3.8 days... Large corporations offer more than 5 days

South Korean companies are providing an average of 3.8 days for summer vacation this year, a figure that remains unchanged from the previous year, according to a survey by the Korea Employers Federation. The survey, which polled 674 companies with five or more employees, found that 88.6% of businesses plan to offer a summer break.

A notable disparity exists in vacation length based on company size. Large corporations, defined as those with 300 or more employees, are more likely to offer extended leave, with 65.5% providing five or more days off. In contrast, small and medium-sized enterprises (SMEs) typically offer three days, with 48.5% of companies under 300 employees reporting this duration. The average vacation days for large companies stand at 4.6 days, compared to 3.7 days for SMEs.

The survey also highlighted differences in vacation operational methods across industries. Manufacturing firms predominantly opt for a concentrated break of about a week (69.7%), whereas non-manufacturing sectors allow for more flexible, individual leave scheduling over one to two months (64.6%). For companies with concentrated breaks, early August is the most popular period (67.5%), followed by late July (23.8%).

Regarding economic outlook, businesses anticipate the second half of the year to be similar to the first, with 50.2% expecting no significant change. While concerns about an economic slowdown have somewhat decreased compared to last year, hopes for a robust recovery have also diminished, with only 12.7% expecting improvement.