Fewer Companies Pay Summer Vacation Allowances... Economic Outlook 'Surprisingly Calm'

A survey by the Korea Chamber of Commerce and Industry found that 53% of companies plan to provide summer vacation allowances, down 1 percentage point from last year. While 50.2% expect the second-half economy to remain stable, pessimism and optimism both declined, with 37.1% anticipating deterioration and 12.7% expecting improvement.