Oct. 2 has been confirmed as a temporary holiday by the Cabinet, Tuesday, making the sought after 10-day holiday in the beginning of October a reality.
From Sept. 30 to Oct. 9, the longest chain of national holidays will unfurl, linking National Foundation Day, Chuseok holidays and Hangeul Proclamation Day.
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(The Korea Herald) |
President Moon Jae-in noted that a delay in making the decision will hamper people’s holiday plans upon choosing to make the announcement a month in advance.
Experts forecast the decision will yield economic gains of 5 trillion won ($4.4 billion). According to Hyundai Research Institute’s analysis, in 2015 when Aug. 14 was designated as a temporary holiday, the estimated economic surplus on that day alone came up to nearly 2 trillion won. This figure was based on the assumption that half of Korea’s population, 25 million people, each spent an average of 79,600 won on the day.
(
kaylalim@heraldcorp.com)
