3% Wage Hike... Withdrawal of the '2nd General Strike' Scheduled for the 30th

 

The labor and management of the financial sector have reached a tentative agreement to raise wages by 3.0% and shorten bank operating hours by 30 minutes. Consequently, the second general strike scheduled for the 30th has been withdrawn.

According to the financial sector on the 28th, the industrial-wide central negotiations between the Korean Financial Industry Union (KFIU) and the employer side have been tentatively concluded.

Looking at the tentative agreement, the details include: △ a 3.0% increase in total wages, △ shortening operating hours by 30 minutes based on the morning opening time, △ establishing a 'work-life balance flexible commuting system' allowing arrival times to be delayed by up to 1 hour per week (maximum 30 minutes per day), △ introducing Friday's Last Call (customer closing system) and providing compensatory leave, △ improving the mystery shopping system, and △ expanding the eligible age for childcare leave up to the 6th grade of elementary school.

The financial union plans to hold an emergency branch representative meeting on the 29th to share the details of the tentative agreement. Also, following the tentative conclusion of the agreement, the second general strike scheduled for the 30th has been withdrawn.