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Biz News Korea(Eng)
General strike by Korea’s unionized bankers shows poor turnout
- Collected
- 2016.09.24
- Distributed
- 2016.09.26
- Source
- Go Direct
Business was normal at bank windows despite initial worries as a mere 3 percent of the employees of four major commercial banks took part in the walkout.
The union previously warned about 100,000 unionized workers will participate in the rally. But just about 18,000 employees, about 16 percent of the nation’s total bank workers, joined the walkout, according to the Financial Supervisory Service. There are 110,000 employees working at Korean banks and an estimated 80,000 bank workers are affiliated to the union.
The financial watchdog dispatched 50 supervisors to the headquarters of 17 banks to keep watch on bank operations.
Workers at public banks were more eager in the protest than their counterparts in commercial banks. The biggest participants came from state-run Industrial Bank of Korea with about 4,000 employees or 41.2 percent of its total unionized workforce, joining the rally. The performance-based salary system has already been compulsory for public banks.
Korean bankers have come under fire for being overpaid even as its revenue hinges mostly on retail banking. They are said to be among the highest-earners among the members of the Organization for Economic Cooperation and Development.
By Park Yoon-ye and Roh Seung Hwan
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]