"Should I Take a Day Off?"... Banks Close During Lunch Hours

Kookmin Bank "Pilot Operation, Not Regular Branch"
Financial Services Commission Chairman Urges Normalization of Business Hours

[Asia Economy Culture Young Intern Reporter] Amid the shortened business hours of banks due to the spread of COVID-19, KB Kookmin Bank announced that it will suspend operations during lunchtime. Although Kookmin Bank plans to pilot this system only at some branches, financial consumers are voicing complaints that "customers will suffer losses."

Financial Services Commission Chairman Kim Ju-hyun is visiting the KB Kookmin Bank Namdaemun Comprehensive Financial Center in Jung-gu, Seoul on the afternoon of the 5th to conduct an on-site inspection of flexible stores, engaging in conversation with KB Kookmin Bank President Lee Jae-geun and other officials. Photo by Yonhap News

Kookmin Bank will implement a "simultaneous lunch break" system for 14 branches starting from the 30th for six months. Bank employees at these branches will stop banking operations for one hour during lunch. The targeted branches are 10 locations inside government offices and military bases where general customer visits are low, and from March 6, branches located in universities will also adopt this system. However, lunch break times can be set differently depending on the branch.

This is not the first time Kookmin Bank has suspended operations during lunch. Among regional banks, Daegu Bank and Busan Bank have closed only their small branches during lunchtime. This system has been a long-standing demand from the financial labor union, which argues that even with shift work during lunch breaks, there are cases where employees cannot properly eat lunch due to gaps caused by vacations, training, and other reasons.

However, there are complaints among consumers. Although the bank states that this is only a pilot operation and does not apply to general branches, it could be expanded to other branches or other banks at any time. Office workers who visit banks by splitting their lunch breaks are heard complaining, "We might have to take annual leave just to go to the bank."

The reduction in bank business hours due to the spread of COVID-19 has further fueled the backlash. Since July 2021, commercial banks have shortened their business hours by one hour compared to before, operating from 9:30 AM to 3:30 PM.

Kim Ju-hyun, Chairman of the Financial Services Commission, urged the normalization of business hours, saying, "As the COVID-19 quarantine situation is returning to normal, restoring bank business hours to normal aligns with the public sentiment and expectations."

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