News

Korean Finance Industry Union (KFIU) members voted in favour of strike action – 91% voting in favour of the strike call demanding the Korean Government to introduce meaningful reforms in Banking Industry. KFIU opposes the appointment of politically patronized incompetent management in Banks to control the finance industry.

A mass rally is organized today 27th August 2014, at Yoido Plaza, Seoul. KFIU expects to mobilize more than 50 000 members supporting the union’s claims to push for reforms making finance industry working for the economy taking in to account of social values and job security of employees.

Korean Bank employees are forced to work long hours to meet unrealistic performance targets; resulting in rise of stress related health issues among them.

KFIU has given a strike notice for 3rd September 2014; Deputy Prime Minister Mr Choi Kyung-Hwan in charge of Finance and Economic Affairs had a meeting with KFIU President Kim Moon-Ho to persuade the union to cancel the strike action. KFIU President Kim has requested the government to withdraw the fake reforms introduced in the Korean Finance Industry.

KFIU members are agitating for the following and continue with their struggle:

• Stop appointment of politically patronized CEO’s to keep the finance industry under government control
• Not to cut down or withdraw welfare benefits of Employees
• Honour the Tripartite agreement entered during the consolidation of Hana Bank and Korea Exchange Bank
• To end the long hours work culture to meet unrealistic performance target given to bank employees.