The IBK Industrial Bank union has announced plans for a general strike at year-end.
According to the financial sector on the 13th, the Industrial Bank union conducted a vote concerning strike actions for its members the previous day. In the voting results, 88% of union members participated, with 95% (6,241 members) in favor of the strike.
The union demanded ▲the introduction of a profit-sharing system to provide special bonuses ▲cash payment for accumulated compensatory leave (overtime pay) ▲an increase in the amount of employee stock ownership, among other things. If their demands are not met, they plan to proceed with the general strike at year-end.
Union chairman Kim Hyung-sun said, “The Industrial Bank is paying employees 30% less than commercial banks that provide the same labor, citing its status as a public institution.” He added, “They are also not paying overtime allowances, which amount to about 6 million won per person, using the government’s overall labor cost limit as an excuse.”