Banking Sector Hiring Plans 'Shaken' by COVID-19 (Comprehensive)

[Asia Economy Reporter Kim Min-young] The new coronavirus infection (COVID-19) is shaking up the recruitment plans for new employees in the banking sector. Major commercial banks, which are about to start their first half recruitment, have not even been able to post announcements.

According to the banking sector on the 2nd, Shinhan, Woori, and IBK Industrial Bank of Korea have not finalized their recruitment plans for the first half of this year.

Major banks usually post recruitment announcements by the end of February or at the latest in March or April, then conduct document screening, written exams, and interviews from May to July, but most banks have not posted announcements yet.

Banking officials said in unison, "Due to COVID-19, we have not been able to set recruitment plans for the first half of the year," and "At this point, we do not know the number of recruits either."

Shinhan Bank has not yet set specific recruitment plans or the number of recruits. The bank posted a recruitment announcement on April 25 last year and selected 350 new employees, but it is uncertain when they will post an announcement this year.

Woori Bank is also planning to monitor the COVID-19 situation. Normally, they would prepare recruitment plans within this month and post recruitment announcements around April, but only internal discussions are ongoing with no progress. The bank recruited 300 people in the first half of last year.

IBK Industrial Bank of Korea is in the same situation. The bank accepted applications from February 28 to March 15 last year, but this year has not even posted an announcement. It is known that they plan to proceed with recruitment procedures once COVID-19 calms down. The bank recruited 220 people in the first half of last year.

On the 2nd, as confirmed cases of the novel coronavirus infection are increasing, office workers are heading to work wearing masks at the Sejongno intersection in Jongno-gu, Seoul. Photo by Kang Jin-hyung aymsdream@

If the COVID-19 situation does not improve, there is even a possibility that nearly 1,000 new recruitments in the banking sector could be postponed indefinitely. In the worst case, recruitment for the first half could be canceled. Banks are perceived as "dream workplaces" or "divine workplaces" because of their high wages and stability comparable to public enterprises. Recruitment in the banking sector is always a top concern for job seekers.

An official from a commercial bank said, "With even civil service exams being postponed, we cannot rashly set recruitment schedules," and added, "It is frustrating not knowing what will happen even a moment ahead."

NH Nonghyup Bank, which conducts open recruitment together with the Nonghyup Central Association, is also experiencing difficulties. The written exam scheduled for the 9th of last month was postponed once and held on the 23rd. The results of the written exam were announced on the 28th, but the interview schedule has not been set. An NH Nonghyup Bank official said, "The interview schedule has not been decided yet," and "We informed the written exam passers that the interview schedule will be notified once the COVID-19 situation settles down." NH Nonghyup Bank plans to recruit 280 people in the first half of this year.

KB Kookmin Bank and Hana Bank only conduct recruitment in the second half of the year. Last year, the two banks recruited 500 and 400 people respectively (including occasional recruitment).

This content was produced with the assistance of AI translation services.