Workers spend more money on education and leisure activity: Official
- 5 years ago
It's been more than half a year since millions of South Koreans saw a change in their work-life balance.
A new law shortened the maximum work week from 68 hours... to 52.
Workers have more time for education and leisure activities, and their spending shows it.
Our Choi Si-young explains.
According to the Bank of Korea and Statistics Korea, household spending on education last year jumped three-point-two percent from the year before... to a total of about thirty-seven billion U.S. dollars.
That's the biggest increase in nine years.
Experts attribute the rise to more education spending by students,... AND by workers who've been able to enjoy more time off work since last July when the fifty-two hour workweek was put in place.
Analysis by the Bank of Korea also says the increase since the third quarter of last year was pronounced, pointing to more workers taking courses at language institutes or cultural centers.
Also, workers spent more money on leisure and entertainment last year.
Total spending came to roughly fifty-nine billion dollars, an on-year jump of four-point-six percent,... the highest in seven years.
Retail sales related to camping and other outdoor activities increased, and according to the national tax agency, more permits were granted for new entertainment businesses,... such as indoor golf, archery and baseball.
While the shorter work week has given people more free time, it's still not clear which age groups benefited most.
Choi Si-young, Arirang News.
A new law shortened the maximum work week from 68 hours... to 52.
Workers have more time for education and leisure activities, and their spending shows it.
Our Choi Si-young explains.
According to the Bank of Korea and Statistics Korea, household spending on education last year jumped three-point-two percent from the year before... to a total of about thirty-seven billion U.S. dollars.
That's the biggest increase in nine years.
Experts attribute the rise to more education spending by students,... AND by workers who've been able to enjoy more time off work since last July when the fifty-two hour workweek was put in place.
Analysis by the Bank of Korea also says the increase since the third quarter of last year was pronounced, pointing to more workers taking courses at language institutes or cultural centers.
Also, workers spent more money on leisure and entertainment last year.
Total spending came to roughly fifty-nine billion dollars, an on-year jump of four-point-six percent,... the highest in seven years.
Retail sales related to camping and other outdoor activities increased, and according to the national tax agency, more permits were granted for new entertainment businesses,... such as indoor golf, archery and baseball.
While the shorter work week has given people more free time, it's still not clear which age groups benefited most.
Choi Si-young, Arirang News.