18년 만의 귀환, 제헌절 공휴일 부활이 쏘아 올린 휴식과 경제의 파동 > K-wave Trends

The re-designation of Constitution Day as a public holiday goes beyond a short-term phenomenon of simply increasing the number of days off, and serves as an opportunity to reexamine the historical value of the Constitution of the Republic of Korea. Although July 17, 1948 is a day commemorating the enactment of the Constitution, which laid the foundation for a liberal democratic nation, it has been the subject of constant controversy over fairness as it has been excluded from public holidays unlike other national holidays. The government suddenly revised the 'Law on Public Holidays' to reflect these public demands and the trends of the times, and through this, Constitution Day finally achieved the status of both a national holiday and a public holiday. Now, through Constitution Day, citizens can go beyond simply enjoying the pleasure of resting and have time for reflection to think again about the roots of democracy in the Republic of Korea.

With the return of Constitution Day as a public holiday, the travel and lodging industries are receiving the most attention. Mid-July is the time when the heat begins in earnest and the summer vacation season ripens. The three-day Golden Week holiday, which begins on Friday the 17th, is expected to explosively increase tourism demand. Major vacation spots across the country, including beaches, resorts, and camping sites, have already prepared to enjoy special offers, with reservation inquiries rapidly increasing. As office workers can also plan long-distance trips or family outings without using up their annual leave, it is expected that the suppressed desire to travel will be relieved through this holiday season. This is expected to revitalize the sluggish domestic economy and have a positive ripple effect throughout the related service industry.

The confirmation of public holidays not only affects vacation plans, but also portends immediate changes in the operation of the national financial system and securities markets. In line with the government's revision of laws, the Korea Exchange officially designated Constitution Day as a regular closing day. Accordingly, on July 17th, the entire securities market, including the stock market, ETF, ETN, and derivatives markets, will be closed. This can be interpreted as a determination to guarantee the benefits of public holidays to financial workers in addition to the local elections on June 3, and to adjust the market's breathing in line with the national anniversary. Investors should familiarize themselves with the closing schedule in advance and revise their trading strategies. It is important to note that trading will proceed normally until the night of the 16th, the day before the closing date.

Social discourse on the criteria for designating public holidays is also heating up once again. The public expresses regret over the current law, which does not apply alternative holidays even when national commemorative days such as Memorial Day overlap with weekends, but at the same time, they seem to reflect on the essential meaning of commemorative commemoration. This is because there is a legal difference in that Memorial Day is a 'memorial day' that honors those who sacrificed their lives for the country, while March 1st, Liberation Day, and Constitution Day are 'national holidays' that commemorate the nation's auspicious events. This distinction suggests that the purpose of public holidays is not simply to relax, but to respect the character and historical identity of national holidays. Although the debate over the fairness of the alternative public holiday system will continue in the future, this re-designation of Constitution Day is an example that shows that public holiday policy is evolving to reflect the public sentiment and the needs of the times.

The education community and parents are also paying close attention to the issue of adjusting the academic schedule following the revival of the Constitution Day holiday. As the possibility of schools operating on closed days increases, students face an unexpected holiday, and parents are busy making plans for in-home childcare or experiential learning. This will be an opportunity to feel the importance of constitutional education in the educational field, and will also be a valuable opportunity for family members to spend time together. The way society as a whole celebrates Constitution Day goes beyond simply enjoying a 'play day', and moves towards reflecting on constitutional values ​​and improving the quality of life as a member of the national community called the Republic of Korea. Constitution Day, which has returned for 18 years, is imprinting the value of new order and rest in our society.