Changes to the Republic of Korea's Substitute Holiday Bill: June 2021
When you hire employees abroad you will need to keep track of which public holidays they are entitled to, many of which may be new to you. Complicating matters further is the fact that some countries make regular changes to public holiday entitlements, which is the case recently in South Korea.
What is the Substitute Holiday Bill in South Korea?
Passed in 2013, the Substitute Holiday Bill declared that employees were entitled to one extra day off - if a holiday fell on a Saturday or Sunday. It only could be used for one time for three specific holidays, resulting in a three-day weekend.
What is the new Transfer Holiday Expansion Law in South Korea effective June 2021?
The Transfer Holiday Expansion Law expanded on the policy behind the Substitute Holiday Bill, because of the fact that South Koreans have fewer public holidays than many countries.
It is designed to address the situation when a public holiday falls on a weekend, effectively reducing the number of total public holidays in a year. It expanded the original Substitute Holiday Bill to include all public holidays that fall on a weekend, which will now be taken on Monday. Naturally, those will change each year.
Who is affected by the New Transfer Holiday Expansion Law?
The original law only applied to the... read more