News

The UNI Finance affiliate KFIU (Korea Finance Industry Union) held an evening rally at Yoido Plaza on August 27th. 50,000 union members participated.

A strike is going to take place on September 3rd, involving 37 local unions of KFIU after the failure of 18 rounds of negotiation regarding discrimination between regular workers and contract workers, retirement age extension without condition and salary increase.

The main goal is to put pressure on the government to accept KFIU proposal and have a dialogue about the best solutions to stabilize the financial industry and promote employment security.

Right after the announcement of the strike plan, Choi Kyung-Hwan, the Vice Prime Minister and Minister of Economy & Finance met with Bro Kim and asked him to reconsider the plans for the strike. Bro Kim responded that the government should take into consideration the KFIU's demands first, and then the second strike planned for October could be cancelled. 

Key policy-makers of the New Politics Coalition, the Opposition Party visited KFIU to discuss the current turmoil of the financial industry, particularly in the banks.  Bro. Kim also had a talk with the Vice Chair of Financial Supervisory Services.

On September 1st, Bro. Kim is meeting with President Park Geun-Hye at the Presidential Office. This is the first time that a President of the country has had a meeting with a union president before a planned strike.  This reflects the impact of the KFIU's strike action in the Korean economy and financial sector.

KFIU will hold a press conference after the meeting with President Park.

UNI Finance is sending a solidarity message to KFIU and asking Vice Minister Choi Kyung-Hwan, (Ministry of Economy & Finance) to adopt a financial stability plan which can solve a number of issues in the finance sector, including the parachuted nominations of CEOs, short-term oriented incentive schemes,  inconsistent financial policy, intervention in bank management, the breach of the MOU for the consolidation of Hana Bank and KEB, and Nonyhyup Bank's Business Seperation Plan.

For more information, please contact:

JayChoi
UNI-APRO Korea Desk Coordinator
jayfree24@gmail.com
+82-10-3728-5826(m)
+82-2-70-4176-5826(o)