Bank Operating Hours Remain Shortened by One Hour Despite 'With Corona' Policy

Business Hours: 9:30 AM to 3:30 PM

[Asia Economy Reporter Kwangho Lee] Although 'With Corona' started this month, bank business hours will continue to be shortened by one hour as before.

According to the financial sector on the 1st, bank branches will maintain the one-hour shortened operation from 9:30 a.m. to 3:30 p.m. this month as well.

Banks have reduced branch operating hours several times from the original 9 a.m. to 4 p.m. to 9:30 a.m. to 3:30 p.m. since September last year, following the strengthening of social distancing measures.

Bank business hours are determined through consultations between the Financial Industry Employers Council and the National Financial Industry Labor Union. Park Han-jin, Secretary General of the Financial Labor Union, said, "We are not discussing the normalization of branch business hours," adding, "It will be reconsidered in next year's sectoral collective bargaining."

However, banks will ease quarantine rules from this day by applying the government's With Corona guidelines.

Shinhan Bank adjusted the headquarters' telecommuting and decentralized work ratio from over 30% to over 20%. The in-house cafeteria remains closed as before but operates by selling salads and lunch boxes. In particular, events, training, and external meetings with affiliates can be held face-to-face with a minimized number of attendees.

Woori Bank applies a standard of fewer than 100 people when including vaccinated and unvaccinated participants for meetings, training, and events, and fewer than 500 people when only vaccinated and tested negative participants are included. The decentralized work ratio is maintained at 30%.

KB Kookmin, Hana, NongHyup Banks, and others are also reviewing measures to ease quarantine rules, including adjusting the decentralized work ratio.

A bank official said, "Despite the shortened business hours, there is not much inconvenience or complaints from financial consumers," adding, "As digital finance such as mobile applications (apps) has taken root, there are fewer cases of lining up at branches as before, so the shortening of business hours may become more common."

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