Shinhan Bank to Shift at Least 20% of Headquarters Staff to Remote Work

At Least 20% of Headquarters Staff to Switch to Remote Work or Work at Smart Working Centers Instead of Main Office

[Asia Economy Reporter Kwon Haeyoung] As the novel coronavirus infection (COVID-19) rapidly spreads, Shinhan Bank has taken measures to have at least 20% of its headquarters staff work from home or work in 4 to 5 shifts at smart working centers instead of the main office.

According to Shinhan Bank on the 26th, a comprehensive situation room is being operated and such emergency response plans have been established and implemented to respond to COVID-19.

First, a work-from-home environment was set up. Employees can work from home using laptops provided by the bank, and a desktop virtualization environment was established to allow work processing using external PCs such as personal computers.

To prepare for workplace closures and maintain operations, alternative offices were also arranged. At Shinhan Bank’s Jukjeon Data Center, a business continuity plan (BCP) office was established for special departments such as the Solution & Trading (S&T) Center, Foreign Exchange Support Department, Treasury Department, and Financial Settlement Department. Additionally, alternative offices where work is possible were prepared at the main office, Gwanggyo Baeknyeon-gwan, and Yeongdeungpo.

Shinhan Bank also completed disinfection of the entire main office and Buyoung Building work sites on the 23rd and 24th. The distribution of key personnel by ICT group tasks to smart working centers located in Gangnam, Yeongdeungpo, Ilsan, as well as Gwanggyo Baeknyeon-gwan and Jukjeon Data Center, has also been completed.

Meanwhile, the Financial Services Commission announced on the same day that, in preparation for the spread of COVID-19, it sent a "non-action opinion letter" to the Korea Financial Investment Association and Korea Citibank on the 7th, stating that general employees of financial companies can also work remotely via remote access. It added that this guidance was provided so that other financial companies can respond quickly. It is expected that the transition to remote work in financial companies will rapidly expand following the financial authorities’ directive.