The KCCI says a four-day weekend next week would create an even greater economic impact than last year because the government is already promoting tourism in the first two weeks of May. (image: Kobizmedia/Korea Bizwire)
SEOUL, April 26 (Korea Bizwire) – President Park Geun-hye said Tuesday her administration is “strongly” considering designating a temporary holiday next week to encourage more people to spend and help prop up the national economy.
In a luncheon with leaders of major news outlets earlier in the day, Park said she is “positively considering” the possibility of setting May 6 as a holiday, in response to a request made by the Korea Chamber of Commerce & Industry (KCCI) a day earlier.
The KCCI had asked the government to allow a four-day weekend next week, citing positive economic outcomes after Aug. 14 was designated as a temporary holiday last year. South Koreans were allowed that day off since Independence Day on Aug. 15, which is a public holiday, fell on a Saturday.
South Korea celebrates Children’s Day, May 5, as a public holiday, and giving people the next day off would allow them to take off work for four straight days. The KCCI says a four-day weekend next week would create an even greater economic impact than last year because the government is already promoting tourism in the first two weeks of May.
Last year, the government exempted highway tolls, offered 50 percent discounts on select train travel plans and made major palaces and other tourist locations free to the public. The economic impact was estimated at 1.31 trillion won (US$1.14 billion).
The Cabinet will likely table the bill at an upcoming meeting presided over by Park on Thursday.
If passed, the KCCI will notify 160,000 member companies of the results and encourage them to take the four-day holiday.
