'Chilly' Yeouido... Company Dinners Disappear Due to COVID-19

Securities Firms Communicate Guidelines for Group Activities Such as In-Person Meetings and Department Lunches

[Asia Economy Reporter Oh Ju-yeon] "I thought the novel coronavirus infection (COVID-19) was stabilizing, but concerns are rising again. Face-to-face meetings are also becoming undesirable."

An employee working at a securities firm in Yeouido, Seoul, said on the 21st, "The COVID-19 outbreak in Daegu has spread to the local community, increasing anxiety." The Yeouido securities district, where meetings and other face-to-face work are frequent, has frozen due to COVID-19 fears. Evening dinners have disappeared, and overseas business trips are only allowed when absolutely necessary for work. Corporate finance (IB) employees who need to find overseas investment destinations are anxious, while China-based staff are restricted in their movements and are anxiously staying at home.

KB Securities issued guidelines restricting overseas business trips for all employees to prevent the spread of COVID-19. The guidelines advise avoiding crowded places and refraining from group activities such as department lunches and team dinners. Those involved in WM tasks that require direct customer contact are required to wear masks and use hand sanitizers provided at branches.

KB Securities is also restricting business trips to all regions of China, including Hong Kong, for all employees. Until the COVID-19 situation stabilizes, trips not pre-approved by the HR department are prohibited. A KB Securities official said, "We are fully prepared by providing precautionary notices and sending official letters restricting business trips."

NH Investment & Securities has issued a ban on dinners. An NH Investment & Securities official said, "We strongly recommend refraining from unnecessary group activities," and added, "Employees are also required to wear masks inside the office." They even advise against handshakes to prevent infection spread. A thermal imaging camera operates in the first-floor lobby of the headquarters, and employees with a fever of 37.5 degrees Celsius or higher are rechecked and sent home immediately. A "preemptive action, post-reporting" system is also in place, ordering immediate leave if symptoms of infection or contact with confirmed cases are suspected. NH Investment & Securities has banned business trips not only to China but also to all Southeast Asian regions and strongly recommends refraining from personal travel.

Mirae Asset Daewoo has allowed China-based employees to work from home to minimize local movement. Currently, there are no telecommuting employees domestically, but guidelines for "alternative workspaces" have been established considering the nature of work and circumstances. Face-to-face meetings are also being conducted remotely as much as possible. Samsung Securities is also refraining from team dinners, and Kiwoom Securities is making every effort to prevent infection spread by explaining COVID-19 response guidelines to employees.