'2023 Business Performance Disclosure Report' Announcement
The average annual labor income of employees at the five major commercial banks?KB Kookmin, Shinhan, Hana, Woori, and NH Nonghyup?was recorded at 110 million KRW last year.
According to the "2023 Management Status Disclosure Report" released by the Korea Federation of Banks on the 31st, the total labor income of employees at the five major commercial banks increased by 6.7% year-on-year to approximately 1.1695 trillion KRW. This figure accounts only for the labor income of employees excluding executives. By bank, Hana Bank recorded 137.17 million KRW, Kookmin Bank 118.21 million KRW, Nonghyup Bank 110.69 million KRW, Woori Bank 109.69 million KRW, and Shinhan Bank 108.98 million KRW.
The average severance pay for voluntary retirees rose by 1.7% from the previous year to 361.67 million KRW. By bank, Hana Bank was 409.15 million KRW, Woori Bank 402.65 million KRW, Kookmin Bank 381 million KRW, Nonghyup Bank 308.13 million KRW, and Shinhan Bank 307.46 million KRW.
The average income of executives increased by 4.9% year-on-year to 312.93 million KRW. By bank, Kookmin Bank recorded 474.28 million KRW, Shinhan Bank 378.45 million KRW, Hana Bank 338.75 million KRW, Nonghyup Bank 212.3 million KRW, and Woori Bank 162.65 million KRW.
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