New Industrial Bank of Korea (IBK) President Jang Min-young was unable to make her first commute on the 23rd due to a labor union protest blocking her entry.
Jang arrived for work at the Industrial Bank of Korea (IBK) headquarters in Euljiro, Seoul, at about 8:50 a.m. on the 23rd, but turned back after a standoff with union members. The Industrial Bank of Korea (IBK) union was reportedly blocking the headquarters entrances from the morning to stop Jang from entering.
Union members blocked Jang on her way in and shouted, "Get the president's promise," calling for a resolution to issues such as payment of overdue wages. The union says that the application of the aggregates personnel expense cap by the Ministry of Economy and Finance has prevented employees from receiving overtime pay and other payments amounting to 6 million won per person. President Lee Jae-myung said at a Financial Services Commission work briefing last month, "It seems the government is essentially forcing operations to violate the law. The Policy Office should take care of it." After the government failed to present follow-up measures, union members moved to block the new president from entering.
Jang said, "Labor and management will work together to resolve the issue," but the union members did not lift the blockade. In the end, Jang waited a little over 10 minutes and left.
Jang was appointed the previous day after a nomination recommendation by Financial Services Commission (FSC) Chairman Lee Eog-weon. After joining the Small and Medium Industry Bank in 1989, Jang served as head of the risk management group (vice president), head of the Gangbuk regional headquarters, head of the IBK Economic Research Institute, and head of the treasury operations department. Since 2024, Jang has served as CEO of IBK Asset Management.