Can be used for 5 consecutive days
but mostly split into 2-3 days each
Cannot travel abroad due to self-quarantine
On the 2nd, aircraft are parked at the apron of Incheon International Airport. Photo by Mun Ho-nam munonam@
[Asia Economy Reporter Kim Min-young] The novel coronavirus infection (COVID-19) is changing the vacation culture in the banking sector. Instead of the traditionally established '5 consecutive business days' off in the conservative banking industry, the number of bank employees taking vacations split into 2-3 days has significantly increased. In particular, overseas travel, which requires a two-week self-quarantine upon return, has become virtually a dream.
According to the banking sector on the 14th, major banks operate vacation systems that guarantee five or more days of annual leave. Including the weekends before and after, employees can rest for at least nine days.
Shinhan Bank operates the Wel Pro vacation system, which allows employees to take up to 10 consecutive business days off. It was introduced to improve work efficiency through proper rest. Originally, employees could split the ten days into several parts per year, but this year, due to COVID-19, they can use the leave in divided segments without any limit on the number of times.
Woori Bank also introduced the Together Vacation system in 2018, mandating the use of five days of annual leave. However, this year, due to COVID-19, employees are allowed to take five consecutive days off or split the leave into 2-3 day segments. Although it is recommended to take five days consecutively, it is reported that few employees are willing to take as long as nine days off at once.
KB Kookmin Bank offers five days of paid leave under the name of self-development leave, which can be taken consecutively throughout the year, and Hana Bank has a refresh vacation system that grants employees five special paid leave days and ten days of annual leave. NH Nonghyup Bank also provides five days of mental and physical training leave in addition to the mandatory annual leave days under the Labor Standards Act.
However, this year, due to COVID-19, employees are not able to properly use their annual leave. A bank official said, "The HR department encourages taking five consecutive days off, but because there are no suitable travel destinations due to COVID-19, not many employees take five consecutive days off." Many used to spend their vacations abroad, but with outbound travel blocked, they are substituting with short domestic trips to places like Jeju Island or Gangwon Province, or simply resting at home. Another bank employee said, "This summer, I plan to quietly take a vacation with my family at a resort in Gangwon Province."
In particular, banks have issued recommendations to refrain from overseas travel during the period in which the Ministry of Foreign Affairs has issued a special travel advisory until the 19th.
One bank instructed that overseas travel must be reported to group representatives such as vice presidents, executive directors, and managing directors (branch travel must be reported to the respective regional group representatives). Although it is customary not to ask where employees go or what they do during their vacation, this is an extraordinary measure taken due to the COVID-19 situation. Banks require employees who travel abroad to self-quarantine for two weeks upon return. The handling of leave during self-quarantine varies by company: Bank A and Bank B require employees to use their personal annual leave, while Bank C treats it as a petition leave.
A banking sector official said, "Considering the travel period and self-quarantine, employees would effectively have to be absent for 3-4 weeks, so it is expected that almost no employees will travel abroad during this summer vacation." Another bank employee said, "Every year, I took a long summer vacation to travel abroad to the U.S. or Europe, but this year I decided to stay home," adding, "Because of concerns about COVID-19, I can't even think about domestic travel, let alone overseas. I never thought COVID-19 would last this long," lamenting.
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