Yoon Jong-won, CEO of Industrial Bank of Korea, "We are in talks with the union"

Yoon Jong-won, President of IBK Industrial Bank of Korea (second from right), is moving to his seat after completing the joint business agreement ceremony to strengthen support for debt adjustment for low-income households with overdue mortgage loans at the banking sector inclusive finance performance review meeting held at the Seoul Banking Hall on the 22nd. Photo by Moon Ho-nam munonam@

[Asia Economy Reporter Kangwook Cho] Yoon Jong-won, president of Industrial Bank of Korea (IBK), who has been unable to go to the head office for 20 days, said on the 22nd, "We are in talks with the labor union."

After attending a meeting to review the performance of inclusive finance in the banking sector held at the Korea Federation of Banks building in Jung-gu, Seoul, Yoon told reporters, "We are continuously making efforts to engage in dialogue with the labor union." When asked about the topics of discussion, he refrained from commenting.

Earlier, on the 20th, before the bank presidents' meeting, Yoon attended the regular board meeting of the Korea Federation of Banks and said, "We are communicating with the labor union through various channels," adding, "We will continue to have dialogue and try to resolve this situation quickly."

It is reported that IBK is currently continuing dialogue through direct and indirect (face-to-face, messenger, etc.) channels between labor and management. The IBK labor union has been blocking Yoon Jong-won, who has no banking experience and is considered a 'parachute appointment,' from going to work for 20 days since the 3rd.

Meanwhile, Yoon appeared to be conscious of the press on the day, entering and taking a seat in the meeting room after the moderator announced the start of the meeting, with all attendees present, including Eun Sung-soo, chairman of the Financial Services Commission.