More than half of businesses have no plans to give out bonuses ahead of the Chuseok holidays. 

A new survey conducted by online job portal site, Saramin, on 880 companies found that 450 firms, or some 51 percent, will not be giving out Chuseok bonuses this year. 

Among the surveyed firms, 54-and-a-half percent had paid such bonuses last year but that percentage shrank to 48-point-nine percent this year. 

Firms that will give Chuseok bonuses plan to provide an average of 620-thousand won to each employee. That’s down from the 710-thousand won given out in 2016 and 660-thousand won provided last year. 

The survey found that there was a wide gap in the amount of bonuses given out by conglomerates, mid-sized firms and small companies. 

According to the survey, conglomerates’ expected bonuses amounted to some one-point-two million won on average while that of mid-sized companies reached 760-thousand won and of small businesses 590-thousand won. 

The survey also found that nearly 61 percent of large businesses had bonus plans compared to some 49 percent of small-and mid-sized firms.