[Typhoon Hinnamnor] Financial Sector Hit by Torrential Rain Busy Preparing Countermeasures

Financial Sector, Avoid Business Disruptions Like During Heavy Rainfall
Establishing a Comprehensive Situation Room and Accident Report Hotline
"Branch Managers Must Inspect Safety Facilities and Report Directly"

Typhoon Hinnamnor No. 11 moving northward, photographed from space, Photo by NASA Earth Observatory.

[Asia Economy Reporter Song Seung-seop] Ahead of the northward approach of Typhoon No. 11 ‘Hinnamnor,’ the entire financial sector is busy preparing countermeasures at the headquarters level. This is to minimize typhoon damage, as some bank branches experienced disruptions such as water and soil intrusion or power outages during the heavy rain last month.

According to the industry on the 5th, KB Kookmin Bank has formed a ‘Comprehensive Bank Crisis Response Task Force’ and established an incident reporting hotline in response to the northward movement of Typhoon Hinnamnor. The previous day, through the interactive banking application ‘Liiv Talktalk,’ all employees were informed, “Since significant damage is expected, please pay attention to preventing safety accidents,” and “Branch managers are requested to check for leaks around building drainage, exterior walls, and basements immediately after arriving at work.” They also urged frontline staff to be trained on emergency response procedures such as incident reporting.

Woori Bank instructed each branch manager and office head to conduct visual inspections of internal and external facilities and report the findings to prevent typhoon damage. Department heads at the responsible level must check drainage outlets, facility signs, and fire safety equipment on-site. The company-wide emergency contact network was also distributed. If any issues arise, they must be reported by phone to prevent damage.

Shinhan Bank posted a notice on the 2nd to all employees regarding damage prevention and response systems related to Hinnamnor. They urged maximum prevention of possible damage caused by the typhoon to building rooftops, exterior walls, bank signs, and windows. For bank branches, they guided checking and stocking emergency pumps and sandbags to prepare for heavy rain.

In the case of NongHyup Group, the central association held a disaster countermeasure committee meeting last week. Along with preemptive activities such as facility safety inspections and dissemination of action guidelines to prevent casualties, they discussed policies for minimizing damage to farmers and providing swift and systematic recovery support.

OK Savings Bank issued a notice to check vehicle conditions due to the typhoon and heavy rain and to inspect electrical facilities such as wire insulation to prevent electric shock accidents. Center and branch department heads were instructed to inspect each item before leaving work and report any abnormal signs. SBI Savings Bank also disseminated information related to the typhoon’s path while ordering facility management at each branch through the general affairs team.

The financial sector’s intense focus on preparing for Hinnamnor stems from the damage caused by the record-breaking heavy rain in the central region early last month. At that time, Hana Bank’s branch near Gangneung suffered flooding damage in the evening, and a Shinhan Bank branch located in Gwangmyeong, Gyeonggi Province, temporarily closed due to the heavy rain. Woori Bank’s Soongsil University branch and Gangnam Station branch experienced power outages inside the buildings, forcing employees to guide customers to alternative branches.

Currently, Hinnamnor is maintaining a very strong force and moving northeast about 550 km south-southwest of Seogwipo, Jeju Island. It is expected to pass near Jeju Island in the early morning of the 6th and then reach the southern coast of Gyeongnam. From the 5th to 6th, heavy rain exceeding approximately 400mm and strong winds with maximum instantaneous speeds of 40?60 m/s are expected in the region.

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