Lunar New Year bonus given by 60% of companies...Half feel the economy is worsening - South Korea

In South Korea, where the New Year is celebrated according to the lunar calendar, more than 6 out of 10 companies nationwide with five or more employees will pay bonuses for this year's Lunar New Year. The survey “202
According to the 2018 Lunar New Year Business Leave Survey, 66.2% of 715 companies with five or more employees responded that they would provide Lunar New Year bonuses. Although this was a decrease of 0.8 points from last year (67%), 60%
Over. By size, the bonus payment rate was higher for companies with 300 or more employees (75.9%) than for companies with less than 300 employees (64.8%). Payment method is regular bonus 64.3
The most common percentage was 31.2% for separate bonuses (bonuses paid separately at the employer's discretion), and 4.5% for simultaneous payment of regular and separate bonuses.
In the case of separate bonuses, 88.3% of respondents said they would pay them at the same level as last year. more than last year
The percentage was 7.4% for companies, and 4.3% for companies with a small number of companies. 85.7% of responding companies said they planned to take four days off: the Lunar New Year holidays (February 9th to 11th) and the substitute holiday (February 12th). Holiday
8.7% of companies had this for 5 days or more, and 5.6% had 3 days or less. The number of companies with more than 300 employees was more likely to take five or more days off than those with fewer than 300 employees.
On the other hand, there was a noticeable pessimism regarding this year's New Year's economy. Half of the responding companies said it had worsened compared to the previous year, while only a few said it had improved.
It remained at 5.8%. The factors expected to be the most burdensome to this year's operating results are weak demand for products and services due to the economic downturn (57.1%), and rising raw material prices (51.4%).
%), increased labor costs (50.6%), and increased financial costs due to high interest rates (25.4%).