Seven out of ten South Korean firms plan to give out bonuses to their employees for the Lunar New Year holiday next week.

A survey finds the average bonus payment is around one-point-16 million won per person or about 32-thousand won more than last year. 

For businesses, the lunar holiday this year is expected to be an average four-point-one days, zero-point-two days longer than last year. 

The Korea Employers Federation surveyed over 400 companies nationwide with five or more employees.

Over 71 percent expressed plans to hand out holiday bonuses, up three percentage points from last year.

By size, nearly 79 percent of firms with more than 300 workers and 69 percent of firms with employees fewer than 300 had bonus plans for the holiday.