Bank branch hours to be cut by 30 minutes next April
Korea's bank branches will open 30 minutes later starting in April next year, reducing customer service hours under a tentative labor-management agreement reached Monday. Under the agreement, branches will open at 9:30 a.m., instead of the current 9 a.m., while closing hours will remain unchanged at 4 p.m. The tentative deal between the Korean Financial Industry Union, which represents workers at…
Starting in April next year, Korea's bank branches will see their operating hours reduced by 30 minutes, according to a tentative labor-management agreement reached on Monday. Under the deal, bank branches will open at 9:30 a.m., a 30-minute increase from the current 9 a.m. start time, while closing at 4 p.m. remains unchanged. The agreement also calls for a 3 percent raise in overall wages.
Negotiations between the Korean Financial Industry Union, representing workers at major commercial and policy banks, and the Korea Financial Industry Employers Association, had been ongoing for five months before reaching this tentative agreement. The union announced it would cancel a planned strike scheduled for Wednesday upon the signing of the deal.
In addition to the shortened hours, the agreement includes a flexible work schedule enabling employees to push back their start time by up to one hour per week, with a daily maximum of 30 minutes. It also introduces a system for compensatory leave and modifies employee performance evaluations. Furthermore, the agreement aims to enhance the mystery shopping system, which is currently utilized to evaluate customer service.
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.
Also reported by 1 other outlet
- Bank branch hours to be cut by 30 minutes next April koreatimes.co.kr
