Unionized workers at No. 1 internet-only Kakao Bank to stage 5-day strike

The Korea Times reports that unionized workers at internet-only Kakao Bank will embark on a five-day strike, commencing on August 31 and concluding on September 4. This decision follows the failure of ongoing negotiations between the union and the bank's management to reach an agreement on wage increases and other benefits. The strike comes after a full strike held by the workers on July 31.

In the first quarter, Kakao Bank achieved an operating income of 211 billion won ($143 million) on revenue of 1.94 trillion won, marking the highest quarterly figures for both metrics. Notably, earlier this month, unionized workers at Kakao Bank's parent company, Kakao Corp., and the management reached a final wage agreement, following a three-month dispute.

Brief written by urgent.news from The Korea Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.