Possible First Strike in 26 Years at Financial Supervisory Service Since Its Founding... Emergency Committee Launched

Emergency Response Committee Launched
Request for Participation Extended to Directors and Senior Management
Strike Vote May Be Tabled Next Week... Would Be First Strike Since Founding

The Financial Supervisory Service labor union is increasingly likely to go on strike for the first time since its establishment in 1999, in response to its designation as a public institution and the separation and creation of the Financial Consumer Protection Agency. The union has launched an emergency response committee and is currently discussing the possibility of putting a strike vote on the agenda as early as next week.

On the morning of the 10th, Jeong Boseop, Acting Chairman of the Financial Supervisory Service Labor Union (third from the right), along with other employees, held a "Protest Against the Financial Supervisory System Reform" on the first floor of the Financial Supervisory Service headquarters in Yeouido, Yeongdeungpo-gu, Seoul. On the second day of the protest, it was held for 40 minutes starting at 8 a.m., with about 750 employees participating, 50 more than the previous day. Photo by Moon Chaeseok

On the 10th, Jeong Boseop, Acting Chairman of the Financial Supervisory Service labor union, said, "To discuss the future direction of our struggle, we launched the emergency response committee today, with Yun Taewan, the union's vice chairman, serving as its head. We have also convened a general meeting of delegates for three consecutive days since the 8th to discuss matters such as the strike vote," adding, "We are actively requesting that not only directors but also executives at the deputy governor level or higher from management join the emergency response committee."

According to the union's internal regulations, it takes about a week for an agenda item to be submitted and tabled at the delegates' meeting. As a result, it is expected that the decision on whether the union will go on strike will be made as early as next week. If the strike proceeds, it will be the first in the 26 years since the union was founded in 1999. The specific form of the industrial action has not yet been determined. However, the union has stated that it will not carry out joint industrial action with the Financial Services Commission.

Jeong added, "After the emergency committee was launched, we will continue to discuss in detail how to conduct industrial action," and explained, "While we will maintain basic communication with the Financial Services Commission, since its members are government officials and due to the nature of its relationship with the Financial Supervisory Service, it will be difficult to carry out joint industrial action."

The union continued its "black clothing protest" again on this day, with about 750 participants, an increase from the previous day. The union plans to hold the black clothing protest every day in the lobby on the first floor of the Financial Supervisory Service headquarters in Yeouido, Yeongdeungpo-gu, Seoul, until the 12th. Starting next week, they plan to move outside the headquarters to hold protests and other industrial actions. The union is urging not only its members but also non-union employees and management at the director level or higher to join the emergency committee, and has requested a meeting with Governor Lee Chanjin.

Yun Taewan, the union's vice chairman and head of the emergency committee, said, "After the emergency committee was launched, we assigned a 'mission' to management personnel to meet with the National Assembly's Political Affairs Committee and convey our position," and added, "At present, we are requesting that directors from management join the emergency committee, but we have not officially proposed joining to the 15 executives at the deputy governor level or higher."

Regarding the request for a meeting with Governor Lee, Yun stated, "We sent an official letter requesting a meeting on the 8th, setting the deadline for a response as today, but we have not yet received a reply," adding, "We are waiting for the governor to accept the meeting request."

Meanwhile, on the morning of the 10th at 7:42 a.m., Governor Lee arrived at the headquarters. Unlike usual, he went up to his office on the 11th floor via the stairs with one secretary, instead of using the elevator. Governor Lee did not respond to the question of whether he had sent a reply accepting the union's request for a meeting.