arirang news

Korea's unprecedented 10 day holiday boosts spending Updated: 2017-10-07 12:14:19 KST

Korea hasn't seen a break this long in a while; many residents are off work from September 30th to October 9th, a period including the Chuseok thanksgiving holiday and two other national holidays.
What's dubbed the 'Golden Holiday', is for many, also the time to open up their wallets.

People with jobs are spending an average of some 430 US dollars for this year's unprecedented 10-day break, that’s around 20-percent more than last year, when spending was less than 360 dollars.

The people spending the most? Married couples.
The average holiday spending for those who have tied the knot is about 570 US dollars a 50-percent jump from 2016.
Many people dread being single and alone throughout the holiday season, but there’s one perk they can enjoy; getting to save lots of money for themselves.
In fact those without a partner or in-laws are spending just 340-US dollars, pretty much the same amount as last year.

My friends who are married tell me they have so many things to spend their money on, from giving in-laws allowances, to buying presents for extended family members."

"I'm actually glad that I get to spend the money I've saved on just myself during a break like this."

But whether single or in a relationship, a survey says Koreans put about 200 dollars aside for their parents or in-laws, the biggest burden on their mind during the holidays.

However holiday bonuses won't cover all this extra spending.
Only 1 out of 3 employees said they received the traditional cash bonus, with about 50 percent of the workforce getting a gift from their company instead, while 20 percent said that they didn't get anything at all for the holidays.
Lee Unshin, Arirang News.
KOGL : Korea Open Government License
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