Overcoming COVID-19... Jin Ok-dong, Shinhan Bank President, Takes on 'Lunchbox Management'

Closing Cafeteria Where Employees Gather and Replacing It with Lunchbox Sales
Jin Haengjang Aims to Prevent COVID-19 Spread Risk and Revitalize Local Businesses Near Headquarters
Surprise Gift of Masks and Cookies Delivered as 'Vaccine of the Heart' to 450 Employees in Daegu and Gyeongbuk Regions

[Asia Economy Reporter Kwon Haeyoung] Jin Ok-dong, CEO of Shinhan Bank, has initiated a 'lunchbox management' strategy amid the spread of the novel coronavirus infection (COVID-19). This approach reflects the intention to protect employees' health, prevent operational paralysis at the headquarters, and revitalize the surrounding commercial districts frozen by COVID-19.

According to the financial sector on the 5th, Shinhan Bank has suspended the operation of its headquarters cafeteria since the 2nd. Among the four major commercial banks, Shinhan Bank is the only one to have closed its cafeteria.

A Shinhan Bank official stated, "Due to concerns over the spread of COVID-19, we closed the cafeteria where numerous employees gather and replaced it with lunchbox sales," adding, "We are encouraging employees to eat lunch alone or in small groups at their personal offices or desks."

The suspension of cafeteria operations was ordered by CEO Jin. This is to safeguard employees' health against the risk of COVID-19 infection and to minimize potential manpower losses at the headquarters. It is also reported that CEO Jin often eats lunch alone with a lunchbox in his office.

Above all, there is a hidden meaning of 'revitalizing the local commercial district.' As the self-employed business sector rapidly froze due to COVID-19, CEO Jin urged employees to use nearby restaurants to contribute even a little to revitalizing the commercial district. For this reason, the number of lunchboxes prepared by the cafeteria is reportedly kept lower than the average daily number of cafeteria users.

CEO Jin also sent small gifts to employees in the Daegu and Gyeongbuk regions, which are experiencing difficult times due to the rapid spread of COVID-19. A box named 'Vaccine of the Heart,' containing masks, cookies, and other items, was delivered to 450 employees in the region earlier this week. It is said that the employees in Daegu and Gyeongbuk, who received this surprise gift containing comfort and support from the headquarters, gained great strength.

The employee dormitory was also closed. Shinhan Bank operates dormitories for employees assigned near Seoul but whose residences are in other regions, but these have been temporarily suspended. Instead, employees are provided with accommodation expenses to stay at hotels or similar facilities. Since the dormitory gathers employees from various branches in one place, this preemptive measure is necessary to prepare for any possible COVID-19 cases.

CEO Jin has also rolled up his sleeves to support self-employed business owners and small and medium-sized enterprises (SMEs). Shinhan Bank is providing 500 billion KRW in new loans to self-employed and SMEs affected by COVID-19 and has expedited the credit screening process.

One part of this is the 'Hi-Pass Screening Process' introduced by Shinhan Bank. Some loans previously judged by headquarters examiners are now decided by branch managers, and loans that must be reviewed by headquarters are completed within two business days at the latest. For the Daegu and Gyeongbuk regions, credit screening for loans maturing in two months has been proactively completed, and about 3,200 companies eligible for new funding have been informed through local branches to enable prompt loan applications.

A Shinhan Bank official said, "Since COVID-19 is equivalent to a national disaster, we are putting all our corporate capabilities into supporting affected self-employed business owners and SMEs," adding, "CEO Jin continuously orders the preparation of practical measures that can provide real help."

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