Unionized workers of state-run banks stage rally in Seoul to protest planned relocation

Seoul was the site of a significant protest on Friday as thousands of unionized workers from state-run banks gathered in downtown Gwanghwamun area to voice their discontent. The Korean Financial Industry Union (KFIU), representing around 15,000 employees, participated in this one-day walkout, marking the first of its kind in nearly a year.

The demonstration primarily comprised workers from three policy lenders: the Korea Development Bank (KDB), the Export-Import Bank of Korea (EXIM), and the Industrial Bank of Korea (IBK). While the government has not yet disclosed a comprehensive list of agencies and institutions slated for relocation, speculation suggests that the three policy lenders and financial authorities like the Financial Supervisory Service may be included.

Apart from protesting the potential relocation, the workers are also pushing for a 6 percent wage hike, a 4.5-day workweek, and a later retirement age.