96.1% vote in favor of industrial action

Rally set for Aug. 28 in Yeouido

Members of the unions at Korea Development Bank, Industrial Bank of Korea and Export-Import Bank of Korea chant slogans during a joint rally against regional relocation plans in front of Korea Development Bank's headquarters in Yeouido, Seoul, on Tuesday. [Yonhap]
Members of the unions at Korea Development Bank, Industrial Bank of Korea and Export-Import Bank of Korea chant slogans during a joint rally against regional relocation plans in front of Korea Development Bank's headquarters in Yeouido, Seoul, on Tuesday. [Yonhap]

The Korea Financial Industry Union has announced a general strike for Sept. 4, demanding the introduction of a 4.5-day workweek, a halt to plans to relocate financial institutions to regional areas, and wage increases.

The union said Friday that 66,154 of the 68,878 members who participated in a strike authorization vote on Wednesday voted in favor, putting the approval rate at 96.1%.

The union has put forward the 4.5-day workweek, blocking the regional relocation of financial institutions, and real wage increases as its core demands in this year's industry-wide central bargaining talks.

Ahead of the general strike, the union plans to hold a rally on Aug. 28 in Yeouido, Seoul, to build momentum for the Sept. 4 walkout. It will follow the rally with a public outreach campaign before proceeding with the strike.

Earlier, the unions of Korea Development Bank, Industrial Bank of Korea and Export-Import Bank of Korea — all affiliates of the Korea Financial Industry Union — held a joint rally near Korea Development Bank's headquarters in Yeouido on Tuesday, drawing about 2,000 members to protest the government's push for a second round of public institution relocations to regional areas.

The unions issued a joint statement calling on the government to "immediately halt any review of forced relocation of state-run banks, which would destroy financial competitiveness and deal a fatal blow to the national economy." They also said, "How can we compete with financial hubs like Hong Kong, London, Singapore, New York, Shanghai and Tokyo — cities that have succeeded through concentration — if we mechanically scatter our core financial institutions to every corner of the country?"


rim@heraldcorp.com