April 19, 2024

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[THE INVESTOR] South Korean tech giants Samsung Electronics and LG Electronics have decided to allow employees to enjoy their year-end holidays from Dec. 24 until Jan. 1 next year, the firms said on Dec. 22.

The decision is aimed at increasing morale and saving compensation costs for unused annual leave. At big Korean conglomerates, it is still rare to take a weeklong vacation at the end of the year. 

The companies have also decided not to hold large-scale year-end or New Year ceremonies considering the ongoing probe into the snowballing influence-peddling scandal involving President Park Geun-hye and her long-time friend Choi Soon-sil.

Workers at some manufacturing facilities that should be kept in operation around the clock and those who are in charge of preparing for the Consumer Electronics Show, the tech industry’s largest annual gathering held in Las Vegas early next month, will not be able to enjoy as long a vacation as their other colleagues.

“Employees will wrap up their work by Dec. 23 and go on vacation for the whole week at the end of this month,” said an LG official.

Other affiliates of Samsung Group and LG Group also plan to let employees to take days off during the same period.

The two conglomerates will hold a New Year ceremony on Jan. 2.

By Kim Young-won (wone0102@heraldcorp.com)