Mandatory Leave and Financial Support for Financial Company Employees Facing Customer Abuse Proposed (Comprehensive)

Representative Min Byeongdeok Introduces Amendment Bill
Support for Treatment, Counseling, and Temporary Leave Included

Min Byung-duk, Member of the Democratic Party of Korea Photo by Yonhap News

[Asia Economy Reporter Kiho Sung] A bill is being promoted to strengthen protective measures such as temporary leave and financial support for employees of financial companies who suffer from 'customer abuse.' Financial companies also welcome the related bill, saying it can raise awareness among customers and strengthen employee protection.

According to the financial and political sectors on the 5th, Min Byung-duk, a member of the Democratic Party of Korea, recently introduced a partial amendment bill to the Mutual Savings Banks Act, Specialized Credit Finance Business Act, Capital Markets and Financial Investment Services Act, and Saemaeul Geumgo Act containing these provisions. Additional bills related to the Banking Act and Insurance Business Act are also scheduled to be introduced.

Under the current Banking Act, financial companies are obligated to take measures such as separating the victim employee from the abusive customer and replacing the person in charge to protect employees who directly deal with customers from verbal abuse, assault, sexual harassment, etc. Financial companies must implement protective measures such as counseling and treatment support for victim employees and establish a permanent grievance handling system.

A representative from Min’s office explained, "Recently, financial company employees engaged in customer service work experience severe mental stress from hearing verbal abuse or insults from customers, and cases of health problems such as anxiety and depression are increasing," adding, "This law aims to prevent this and strengthen protection for employees engaged in customer service work." The bill includes provisions to support treatment costs, counseling, and temporary leave if employees suffer mental or physical harm or illness, in addition to existing protections.

Furthermore, to enhance the effectiveness of employee protection policies for those engaged in customer service, financial companies are required to post notices or warning signs about employee protection at workplaces where face-to-face customer service is provided. In the case of non-face-to-face consultations, employees must inform customers in advance about employee protection when responding by phone. Additionally, if protection provisions are violated, related executives and financial companies may be fined up to 30 million KRW.

The financial industry has responded positively. A financial company official said, "If the amendment passes, it will serve as an opportunity to raise awareness throughout society," and added, "Related employees will be able to focus on their work more stably."

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