NH Nonghyup Bank, the Only One Among the Top 5 Banks to Increase Hiring

The number of new employee hires at NH Nonghyup Bank increased from 530 in 2019 to 560 last year.

Meanwhile, the hiring of new employees at the five major commercial banks in 2022 (NH Nonghyup Bank, KB Kookmin Bank, Shinhan Bank, Woori Bank, and Hana Bank) decreased by about 30%, from 2,301 in 2019 to 1,662 in 2022.

This appears to be due to a decrease in in-branch customers caused by the prolonged COVID-19 pandemic, leading to branch downsizing and a reduction in face-to-face services, which in turn reduced manpower demand.

The continued reduction of branches by commercial banks is directly leading to a decrease in hiring numbers. Financial authorities discussed measures to solidify bank branch closures at the ‘5th Working Group Meeting on Banking Management, Sales Practices, and System Improvement’ held at the Government Seoul Office.

Looking at each bank, KB Kookmin Bank hired 394 new employees in 2019 but only 238 last year. Shinhan Bank hired 508 in 2019 and 469 last year, while Woori Bank’s hires dropped to less than half, from 739 in 2019 to 310 last year. Hana Bank’s new hires decreased from 130 to 85 during the same period.

In the case of Gyeongnam as well, the number of new hires increased from 27 in 2019 to 33 last year and 33 this year to support the local community.

Despite the ongoing branch reductions by commercial banks, NH Nonghyup Bank has maintained approximately 1,100 branches for several years to serve customers and the local community conveniently.

Jo Geunsu, head of the Gyeongnam headquarters, said, “The prolonged COVID-19 pandemic has frozen the hiring market, deepening the worries of job seekers. Through continuous hiring of local talent, we will overcome the crisis of regional extinction and fulfill the role of a public bank that supports our region, Gyeongnam.”

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