KB Kookmin Bank launched a general strike on Jan. 8 for the first time in 19 years. Labor and management attempted late-night negotiations the previous day, but failed to reach an agreement.
More than 10,000 union members are expected to join the strike. Although it is a one-day-long strike, some 600 branches have failed to function properly and users are expected to be inconvenienced.
The labor union officially went on strike as it held a declaration ceremony at the Student Gymnasium in Jamsil, Songpa-gu, Seoul at 9 a.m. on Jan. 8.
At around 11 p.m. the previous day, the management and labor started final negotiations on key issues such as when to introduce a wage peak system, pay band, and performance-based bonus, but failed to narrow their differences and declared a virtual rupture.
More than 10,000 union members are expected to attend the general strike. In this case, more than two-thirds of the bank employees will join the strike, considering that the total number of the bank members is 14,000, including those who take leave of absence.
Considering the participation rate, it is difficult to operate the entire 1,057 outlets owing to the strike, so that the bank selected 411 outlets by region, considering the size of its branches and the ease of access. The bank headquarters delivered a guidebook to each store to manage the business with a small number of people.
