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 next April, bank branches in South Korea will open 30 minutes later, according to a tentative labor-management agreement reached between the Korean Financial Industry Union and the Korea Financial Industry Employers Association. The new opening time will be 9:30 a.m., up from the current 9 a.m., while closing hours will remain at 4 p.m. The agreement also includes a 3 percent increase in total wages for workers at major commercial and policy banks.
Negotiations between the two sides began in April and lasted about five months before reaching a tentative deal. The union announced it would cancel a planned strike for Wednesday following the agreement. The new contract also features a flexible work schedule, permitting employees to start their shifts up to an hour later per week, with a maximum of 30 minutes daily.
Additionally, the agreement introduces a system for compensatory leave and adjustments to employee performance evaluations. It also aims to enhance the mystery shopping system used to assess customer service.
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- Bank branch hours to be cut by 30 minutes next April koreatimes.co.kr
