Hana Bank Labor-Management Wage Negotiations Settled... Fundraising for Overcoming COVID-19

On the 30th, at the Hana Bank headquarters in Euljiro, Seoul, Bank President Ji Sung-kyu (left) and Labor Union Chairman Choi Ho-geol signed a joint labor-management declaration and posed for a commemorative photo. Photo by Hana Bank

[Asia Economy Reporter Kim Min-young] The wage and collective bargaining agreement (wage and collective agreement) between Hana Bank's labor and management has been reached.

Hana Bank announced on the 30th that the wage and collective agreement between the management and the KEB Hana Bank branch of the National Financial Industry Labor Union has been finalized, and a joint labor-management declaration for overcoming the novel coronavirus infection (COVID-19) and coexistence was announced.

According to Hana Bank, the negotiations, which had been deadlocked since the start of talks in February, gained momentum thanks to the decisive action of Hana Bank CEO Ji Sung-kyu. On the 19th, CEO Ji made a surprise visit to the union office and held a one-on-one meeting with Union Chairman Choi Ho-geol, agreeing to create a grand compromise to wisely resolve the numerous issues amid the national crisis by joining forces. Chairman Choi empathized with CEO Ji's decision, which led to the conclusion of the wage and collective agreement and the joint labor-management declaration.

Through this joint labor-management declaration, Hana Bank's labor and management agreed to establish a joint labor-management fund for donations to socially vulnerable groups. Employees will each donate 50,000 KRW from the retroactive portion of their wage increase, and the bank will match the amount donated by the employees to form the fund.

Additionally, Hana Bank's labor and management agreed to actively participate in revitalizing the local economy, which has been depressed due to COVID-19, and supporting small business owners facing difficulties. To this end, part of the money paid to employees will be replaced with Onnuri gift certificates.

CEO Ji stated, “Going forward, labor and management will unite to establish a model labor-management culture of coexistence, and based on this, we will do our best to develop the bank in a direction that does not betray customers' expectations and trust. We will also work together to fulfill our social responsibility to overcome COVID-19.”

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