South Korea’s major conglomerates to end 2021 quietly as they ditch large ceremonies

South Korea’s major conglomerates are closing 2021 quietly without having year-ending ceremonies that have been held in auditoriums in the past.

According to an industry official, there was already a trend of discarding large-scale yearend events, and the COVID-19 pandemic just accelerated the process.

The official noted that businesses are becoming more practical with CEOs and executives becoming younger.

With numerous companies encouraging their employees to use their annual leave, year-ending ceremonies are becoming non-existent in South Korea's business community.

A substantial number of employees took early holiday breaks.

Meanwhile, New Year opening ceremonies are being held online and independently by subsidiaries, business units, departments, or teams.