Please see the bellows for the details of Korean Annual Paid Leave. This portion of Labor Standards Act can you a brief information for your investment plan.

Article 60 (Annual Paid Leave)

(1) Every employer shall grant any worker who has worked not less than 80 percent of one year a paid leave of 15 days.

(2) Every employer shall grant any worker who has continuously worked for less than one year or who has worked less than 80 percentage of one year one paid-leave day for each month during which he/she has continuously worked.

(3) Where an employer grants any worker a paid leave for the latter's first year of work, the former shall grant the latter a paid leave of 15 days, including the paid-leave referred to in paragraph (2), and, if the latter has already taken the paid-leave provided for in paragraph (2), deduct the number of days of such paid-leave from the said 15 days.

(4) Every employer shall grant any worker who has continuously worked for not less than three years paid-leave days that are calculated by adding one day for every two continuously working years not including the first one year to the 15 paid-leave days referred to in paragraph (1). In this case, the total number of paid-leave days, including the additional paid-leave days, shall not exceed 25 days.

(5) Every employer shall grant the paid leave referred to in paragraphs (1) through (4) at the time when a worker files a claim therefor and pay the worker an ordinary wage or an average wage during the period of paid leave as prescribed by the rules of employment, etc.: Provided, That in the event that granting the worker a paid leave at the time when such worker wants to take the paid leave greatly impedes the business operation, the relevant employer may change the time of the paid leave.

(6) In applying paragraphs (1) through (3), any of the following periods shall be deemed the period of attendance at work:

1. Period during which a worker takes time off due to any injury or sickness arising out of duty;

2. Period during which a woman in pregnancy takes time off due to the leave under the provisions of Article 74 (1) through (3).

(7) The paid leave referred to in paragraphs (1) through (4) shall, if it is not taken for one year, be terminated by time limitation: Provided, that the same shall not apply where the paid leave is not taken for reasons attributable to the employer.

Article 61 (Measures to Urge Workers to Take Annual Paid Leave)

Where any worker's paid leave is terminated by time limitation pursuant to the main sentence of Article 60 (7) after the worker fails to take his/her paid leave although the relevant employer has taken the measures falling under each of the following subparagraphs to urge workers to take their respective annual leave pursuant to Article 60 (1), (3) and (4), the relevant employer is not liable to indemnify the worker for his/her failure to take the paid leave and his/her failure to take the paid leave shall be deemed not to fall under the reasons attributable to the employer provided for in the proviso to Article 60 (7):

1. Any employer shall notify in writing every worker of the number of days of his/her paid leave that has not been taken and to urge every worker to notify the former of a period during which he/she intends to take his/her paid leave after deciding on such period within ten days as of six months before the period provided for in the main sentence of Article 60 (7) expires;

2. An employer shall notify in writing any worker who does not take his/her paid leave after setting a period during which the latter may take his/her paid leave by not later than two months before the period provided for in the main sentence of Article 60 (7) expires, in the event that the worker fails to notify the employer of a period during which the former intends to take, in whole or in part, his/her paid leave which has not been taken, within ten days from the date on which he/she is urged to take his/her paid leave, notwithstanding the urge referred to in subparagraph 1.

Article 62 (Substitution of Paid Leave)

An employer may, by a written agreement with the labor representative, get workers to take a paid leave on a particular working day in substitution of an annual paid leave provided for in Article 60.