News

The Standard Chartered First Bank Trade Union, an affiliate of UNI member the Korean Financial Industrial Union, is calling on the bank to suspend the implementation of the performance related pay system and start negotiations with the union on a new collective agreement to cover the terms and condition of employment, including salaries for all employees. Over 3000 workers have been out on strike since 27 June in protest.



“We stand with the thousands of workers who are simply demanding their right to collective bargaining and fair working conditions,” said UNI Global Union General Secretary Philip Jennings. “We condemn the bank’s attempt to impose a new system that could depress standards in the financial sector. We are calling on management to negotiate in good faith and to come to an agreement with the union that protect workers’ rights.”



UNI unions are joining in a global solidarity campaign supporting the workers on strike and calling on the bank management to negotiate with the company and sign a collective agreement that is in line with standard practice in the Korean financial sector. UK-based Standard Chartered Plc entered Korea in 2005 when it bought Korea First Bank.



The unions are sending letters to Standard Chartered First Bank calling on the company to go to the bargaining table to strike an agreement on pay and other working conditions. At the recent UNI Apro Regional Conference in Manila, the unions issued a resolution affirming their solidarity with the leadership and membership of the Standard Chartered First Bank Trade Union. Candido Mendez Rodriguez, General Secretary of UGT Spain visited Seoul, and assured international solidarity support to the striking workers.



Other solidarity actions are also planned in the coming weeks.



Click on “Related Files” to find a sample letter you can adapt and send to Standard Chartered First Bank CEO Richard Hill as well as a letter sent by Philip Jennings.