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[Asia Economy Reporter Oh Ju-yeon] As the National Assembly speeds up the passage of the bill to expand substitute holidays, the possibility of a substitute holiday being granted for this year's Liberation Day, which falls on a Sunday, has increased. Including Liberation Day, a total of four substitute holidays will be created by the end of this year.

According to political circles on the 10th, the National Assembly's Public Administration and Security Committee is currently reviewing eight bills related to substitute holidays and is considering a plan to designate the first non-holiday immediately before the existing holiday as a substitute holiday if the holiday falls on a Saturday or overlaps with another holiday. In addition, rather than taking effect three months after the bill's passage, they plan to adopt a measure to implement it 'immediately upon promulgation.' If this happens, substitute holidays will be applied to four holidays: August 15 Liberation Day, October 3 National Foundation Day (Gaecheonjeol), October 9 Hangul Day, and December 25 Christmas.

Whether these holidays fall on a Saturday or Sunday, the plan to set the substitute holiday on the preceding Friday is likely, but it could also be decided to designate it on Monday as is currently done. The current law applies substitute holidays only when Lunar New Year, Chuseok, or Children's Day fall on a holiday.

However, adding additional holidays themselves was excluded from this National Assembly session. There are bills proposing to designate July 17 Constitution Day, which is currently a national day but not a holiday, as a holiday, and if this is accepted, July 16 of this month could also become a day off. However, the Public Administration and Security Committee plans to proceed gradually, as expanding substitute holidays along with adding more holidays could burden workplaces.

Seo Young-gyo, chairperson of the Public Administration and Security Committee, told Asia Economy in a phone interview, "We will make it effective immediately after the bill is passed so that it applies starting from August 15 Liberation Day." He added, "There is also a proposal to make all national days holidays, but there could be side effects such as damage to small businesses. We will reach an agreement to designate substitute holidays when holidays overlap with Saturdays or Sundays according to existing government office regulations and process it accordingly."