News

The May Day Rally in Korea gathered a record number of participants from the  KFIU(Korea Finance Industry Union) , with the presence of 50,000 bank union members on the Yoido Plaza in Seoul.   Bro Kim Moon-Ho, KFIU president invited Bro. Kim Dong-Man, FKTU President and Bro. Han Sang-Kyun, KCTU President at the pre-rally for the solidarity speeches. 

Bro. Kim Moon-Ho challenged the government policies and practicies in the finance sector which resulted in higher debts and several cases of corruption. 

"A proper regulation of the Korean financial industry is a prerequisite before the government starts challenging the union.  We represent 100,000 bank employees and we will fight against job insecurity," he said. 

The three union leaders on stage committed to defending the workers rights which are under attack by the government reforms.  This is the second "collective struggle"  since the 1996-1997 Labor Reform, when KCTU went on strike with the support from the FKTU and three visits from the ICFTU delegates.  

Recently Bro. Kim Dong-Man, FKTU President declared that he will withdraw from the Tripartite Dialogue over the labor reform plan, saying  " The government is pushing the unions to accept the easier layoff, lower wages, and more non-regular workers .  This is totally unacceptable for us."

FKTU and KCTU announced a collective action in June, if the government  was going to proceed with labor reforms.   The current crisis will mobilize workers on the front line. 

At the KCTU May Day, one of Sewol Ferry Disaster Victim Family group also addressed a speech to the members asking for support and solidarity.  After the ceremony they marched the streets from City Hall Plaza to Euljiro-Jongro street by holding pickets "Calling for Minimum Wage increase to W10,000 per hour and Stop Labor Reform " . The risk is that the crisis will create a downward spiral which will  jeopardize the labor market as well as the local economy.