Commercial banks are rolling out what is being called a "4.9-day workweek," letting employees leave work one hour early every Friday.
On the 19th, NH Nonghyup Bank said it will implement an early leave-by-one-hour program starting on the 27th. Earlier, IBK Industrial Bank of Korea began the same program in January this year, and KB Kookmin Bank started it in early this month. Shinhan and Hana Bank are also expected to introduce it in turn.
The adoption of the 4.9-day system was agreed upon in October last year during industry-wide talks between the National Financial Industry Labor Union and the financial industry employers' association representing management. Typically, at branches every Friday, after business hours end at 4 p.m., the regular quitting time is moved up from 6 p.m. to 5 p.m.