Major banks shrink entry-level hiring amid AI shift
Korea's major banks are hiring fewer entry-level employees as they expand the use of artificial intelligence (AI) and continue to close branches, making the job market tougher for young people seeking careers in finance, industry officials said Wednesday. The banks have recently begun their open recruitment for the second half of the year. Woori Bank is accepting applications through Aug. 8.…
Major banks in South Korea are reducing entry-level hiring as they increasingly implement artificial intelligence (AI) and close branches, creating a more challenging job market for young professionals pursuing careers in finance, according to industry officials. Woori Bank, one of the affected banks, has opened its second half-year recruitment and is accepting applications until August 8, but plans to hire fewer than 100 new employees, a significant drop from the 190 it hired in the previous half-year.
KB Kookmin Bank, another major player, is taking applications for approximately 160 entry-level positions until September 9, while the Industrial Bank of Korea plans to hire 175 new employees, with applications open until September 14. Other major banks are also expected to disclose their hiring plans soon, but industry officials remain skeptical about an increase in overall positions.
This trend was already evident in the first half of the year, with the four major banks - KB Kookmin, Shinhan, Hana, and Woori - hiring a combined total.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- Major banks shrink entry-level hiring amid AI shift koreatimes.co.kr
