The National Financial Industry Labor Union has reached a tentative agreement that includes a 3% wage increase. As a result, the second planned strike on September 30 has been canceled.
A union official stated on September 28, "A tentative agreement has been reached, and we will not proceed with the second strike scheduled for September 30."
The tentative agreement reportedly includes a 3% wage increase, a 30-minute reduction in banking hours, and the establishment of a flexible work schedule to promote work-life balance (one hour per week). The agreement was reached just before the second strike, as both sides found common ground on key issues such as wage increases and work hour reductions.
Additionally, the agreement includes the introduction of a last call system on Fridays and provisions for compensatory leave. It also states that mystery shopping, which assesses the sales process of financial products, will be excluded from management evaluations, ensuring that employees are not penalized for it.
Furthermore, the agreement expands parental leave eligibility to include sixth-grade elementary school students and extends the work hour adjustment system, among other welfare and work policy improvements.
The financial union plans to hold an emergency representative meeting on September 29 to explain the details of the tentative agreement. Following internal procedures, a final agreement is expected to be confirmed.
Yoon Suk-gu, chairman of the financial union, informed representatives in a notice that "we have agreed to a 3% wage increase and a 30-minute reduction in banking hours," marking a first since the establishment of the country.
* This article has been translated by AI.
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