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Bank of Korea Offers Net 7 Trillion Won in Liquidity Ahead of Chuseok Holiday

Bank of Korea Offers Net 7 Trillion Won in Liquidity Ahead of Chuseok Holiday

SEOUL, Sept. 29 (Korea Bizwire) – The Bank of Korea said Friday it has injected a net 7 trillion won (US$6.1 billion) in liquidity into the financial system to help keep the money supply stable ahead  of the Chuseok holiday.  The central bank said its money injection for the 10 business days leading up to the  holiday jumped 43.3 percent from a year ago as this year’s holidayis the longest in decades. The government gave [...]

Tourism Industry Put to Test During Chuseok Holiday

Tourism Industry Put to Test During Chuseok Holiday

SEOUL, Sept. 21 (Korea Bizwire) – With the 10 day-long Chuseok holiday fast approaching, the South Korean tourism industry finds itself at a critical turning point, with millions of South Koreans deciding between traveling around the country and going abroad. This year’s much anticipated Chuseok holiday, South Korea’s Thanksgiving celebration, is one of the longest in [...]

Highway Rest Stops to Offer Medical Checkups, Mini Golf, Camping During Chuseok Holiday

Highway Rest Stops to Offer Medical Checkups, Mini Golf, Camping During Chuseok Holiday

SEOUL, Sept. 21 (Korea Bizwire) – The upcoming Chuseok holiday starting on October 2 will likely see a reenactment of the annual tradition of highways jam packed with cars inching slowly but surely to extended family gatherings in the outer provinces. In order to cheer up travelers made morose by appalling traffic conditions, the Korea [...]

Experts Divided On Whether 10-Day Holiday Period Will Increase Consumer Spending

Experts Divided On Whether 10-Day Holiday Period Will Increase Consumer Spending

SEOUL, Sept. 8 (Korea Bizwire) — The 10-day holiday starting late September will likely have mixed effects on South Korea’s economy struggling to cope with trade sanctions imposed by China over a missile row, growing protectionism from the United States and geopolitical risks caused by North Korea. The government designated October 2 as a one-off [...]

Small Businesses and Shift Workers Can’t Afford to Enjoy This Year’s Extended Chuseok Holiday

Small Businesses and Shift Workers Can’t Afford to Enjoy This Year’s Extended Chuseok Holiday

SUWON, Sept. 6 (Korea Bizwire) — Despite the government’s decision to make October 2 a temporary national holiday, stretching this year’s Chuseok holiday out over 10 days, workers at small businesses and those on a rotational shift won’t be able to enjoy the so-called Golden Holiday. While workers in the public sector or big corporations welcomed [...]

Chuseok Holiday Sets New Travel Records

Chuseok Holiday Sets New Travel Records

SEOUL, Sept. 19 (Korea Bizwire) – This year’s Chuseok holiday, which began on September 14, has finally ended, and Koreans are returning to their workplaces.  The holiday began with tension following a historic 5.8-magnitude earthquake that struck Gyeongju last Monday, and ended with typhoons Meranti and Malakas affecting the peninsula with heavy rain starting on Saturday.  [...]

S. Korean Espionage Film Sweeps Local Cinemas during Chuseok Holiday

S. Korean Espionage Film Sweeps Local Cinemas during Chuseok Holiday

SEOUL, Sept. 17 (Korea Bizwire) – South Korea’s espionage film “The Age of Shadows” swept local cinemas during the Chuseok holiday this week, surpassing 5 million viewers, data showed Saturday.  According to data compiled by the state-run Korean Film Council (KFC), the film broke the 5 million mark after recording an accumulated audience of more [...]