Banking Sector Sees Decrease in New Employee Hiring Despite Record-Breaking Performance

Major Banks Reduce Hiring Plans
Internet Banks Rarely Hire New Employees
"Concerns Over Worsening Youth Employment Environment"

Despite banks recording record-breaking profits last year, concerns have been raised that the number of new employee hires has remained at previous levels or even decreased. In particular, internet banks were found to have hardly hired any new employees.

According to data submitted by the Financial Supervisory Service to the office of Kim Hyun-jung, a member of the National Assembly's Political Affairs Committee from the Democratic Party of Korea, among the five major commercial banks, Shinhan, Woori, and Hana Banks reduced their regular public hiring numbers in 2024 compared to 2023. Shinhan Bank's hires decreased from 137 to 102, Woori Bank's from 500 to 382, and Hana Bank's from 441 to 384. These figures are lower than initially planned, as Shinhan Bank had intended to hire 150, Woori Bank 390, and Hana Bank 400 employees.

On the other hand, Kookmin Bank maintained a similar level with 254 hires in 2023 and 260 in 2024, while NongHyup Bank saw a significant increase from 480 hires in 2023 to 1,260 in 2024. However, NongHyup Bank reportedly advanced its hiring schedule in the first half of this year, conducting large-scale recruitment last year.

In the case of internet banks, they hardly hired new employees and focused mainly on recruiting experienced professionals. KakaoBank did not hire any new employees from 2020 to 2024 over five years, while Toss Bank hired one new employee each in 2023 and 2024. K Bank hired 26 new employees in 2022, 18 in 2023, but reduced this number to 8 in 2024. Instead, KakaoBank hired 264 experienced employees, K Bank 104, and Toss Bank 226 experienced employees.

Regarding this, KakaoBank explained, "Through non-regular large-scale public recruitment, occasional hiring, and a conversion-type internship system, we have hired 73 new employees over five years from 2020 to 2024."

Assemblywoman Kim Hyun-jung stated, "With the number of 'just resting youth' surpassing 500,000 recently, the reduction in hiring by banks is rapidly worsening the youth employment environment. As financial institutions that play a key role in the national economy, they must follow through with social contributions and responsible roles through employment."