Did They Consider Public Opinion? Bank Expands Hiring, Plans to Recruit 2,288 Employees in the First Half of the Year

[Asia Economy Reporter Bu Aeri] Facing comprehensive pressure from the government and ruling party, the banking sector announced on the 20th that it will increase its hiring scale by more than 600 people compared to last year.

The Korea Federation of Banks stated that 20 domestic banks plan to hire more than 2,288 new employees in the first half of this year. This represents an increase of about 742 people (48%) compared to the first half of last year.

Looking at the banks with hiring plans in the first half, the numbers are as follows: Korea Development Bank (90), NongHyup Bank (500), Shinhan Bank (250), Woori Bank (250), SC First Bank (35), Hana Bank (250), Industrial Bank of Korea (160), KB Kookmin Bank (250), Suhyup Bank (85), Daegu Bank (20), Busan Bank (35), Gwangju Bank (10), Jeju Bank (32), Jeonbuk Bank (10), Gyeongnam Bank (20), K Bank (67), Kakao Bank (148), and Toss Bank (76).

The banks have established plans to hire approximately 3,700 people annually this year.

Banks, which recorded strong performance last year due to interest income during the high-interest rate period, have recently faced criticism as it was revealed that employees received performance bonuses amounting to 300-400% of their base salary and voluntary retirement packages of at least 600 to 700 million KRW per person.

The Korea Federation of Banks explained, "The increase in new hires in the banking sector is due to the expanded capacity for new recruitment following workforce optimization measures such as recent voluntary retirements."

Additionally, domestic banks stated that they will continue to hire high school graduates to fulfill public roles such as early securing of talented personnel and addressing unemployment issues among high school graduates.