"Payment of 40 Months' Salary"... Busan and Gyeongnam Banks Begin Accepting Voluntary Retirement Applications

Applications Accepted Not Only from Those Born in '65 but Also from Deputy-Level and Below

[Asia Economy Reporter Park Sun-mi] BNK Financial Group, a financial holding company in the Busan and Gyeongnam regions, is accepting voluntary retirement applications until the 9th in response to the changing financial industry environment.

On the 9th, Busan Bank and Gyeongnam Bank announced that they are internally accepting voluntary retirement applications until that day. The main target group is employees subject to this year's wage peak system, those born in 1965 and aged 56, but the eligibility for voluntary retirement applications has been expanded to include general employees at the assistant manager level and below.

This was due to the inevitable personnel reduction amid the expansion of non-face-to-face digital finance. BNK Financial Group is known to be setting a goal to reduce executives at the group level and is in the process of selecting personnel for reduction.

Compensation for voluntary retirees this year is at a top level in the banking sector. Busan Bank will pay special retirement allowances equivalent to 32 months' salary for those born in 1965, 38 months' salary for employees at the assistant manager level and below, and 38 to 40 months' salary for those born between 1966 and 1970. Gyeongnam Bank decided to pay special retirement allowances equivalent to 27 months' salary for those born in 1965, 37 months' salary for employees at the assistant manager level and below, and 37 to 40 months' salary for those born between 1966 and 1970.

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