Lunar New Year gifts reflect economy

[Anchor]

Yes, the Lunar New Year gifts are closely related to the economic situation.

Let's take a look at how this year's Lunar New Year is shaping up.

The most desired gift is cash or gift certificates.

With the economy not doing well, people want to fill their thin 'wallets.'

How nice would it be if we could receive what we wish for.

Some large corporations are doing relatively well.

There are companies that have set bonuses up to 1500% of the base salary.

However, for most small and medium-sized enterprises, it is a different world.

It has become increasingly difficult for them to even hope for gifts, let alone bonuses.

Reporter Lee Do-yoon visited the scene.

[Report]

Mr. Cho, a CEO of a company supplying automotive parts.

As the financial situation of clients worsens, he is facing a cash crunch this Lunar New Year like never before.

[Cho ○○/CEO of A Parts Company: "(Payments) are really delayed up to 90 days, so it's tough. The money that hasn't been received leads to taking out loans and rolling over debts."]

The substitute holidays are not welcome either.

[Cho ○○/CEO of A Parts Company: "If possible, I want to come to work and deliver to at least one more place and keep the machines running. But even if we do, the products aren't going out, so we end up resting. It's a tough time. A tough time."]

He can't even think about preparing holiday gifts for his employees.

Instead, he shares gifts received from clients with his staff.

[Employee of B Small Company/Voice Altered: "There are always items we receive from the company (clients), and we pass those on to the employees. Things like ham sets or gifts that come to the CEO, like fruits and such..."]

Bonuses have effectively become a 'taboo' word.

This is an industrial complex where small and medium-sized enterprises are located.

The holiday is just around the corner, but the festive atmosphere is hard to find.

In particular, the difference in bonuses between large and small companies is significant.

While 8 out of 10 large companies provide bonuses, only 6 out of 10 small companies do.

[Employee of C Small Company/Voice Altered: "(Did you receive a bonus?) No. The economy is not good these days, so there won't be a bonus. There's no economy. There is hardly any work."]

Among the companies that couldn't provide bonuses this Lunar New Year, 17% had given bonuses last year.

This indicates that the financial situation has worsened significantly in just one year.

Even if they manage to provide bonuses, the amount is vastly different from that of large corporations.

The average bonus for large companies with over 300 employees is 1.38 million won, while for companies with fewer than 100 employees, it is only 740,000 won.

The Lunar New Year, which should be abundant for everyone, has become a difficult time for small businesses and their employees.

This is KBS News, Lee Do-yoon.