Suhyup Bank Pays '2.5 Billion Won' for Failing to Meet Mandatory Employment Quota for Disabled Persons

Understaffed Mandatory Employment for 6 Years Since 2017
Less Than Half Met Since 2019

Suhyup Bank has been revealed to have paid approximately 2.5 billion KRW in non-compliance penalties for failing to fulfill its obligation to employ persons with disabilities for six years.

According to data submitted by Suhyup Bank on the 20th to Lee Yang-su, a member of the National Assembly's Agriculture, Forestry, Livestock, and Fisheries Committee from the People Power Party (representing Sokcho, Inje, Goseong, and Yangyang), Suhyup Bank has employed fewer persons with disabilities than the mandatory employment rate every year from 2016, when it separated from Suhyup Central Association, until last year, resulting in the payment of non-compliance penalties. The total amount of non-compliance penalties paid by Suhyup Bank up to last year is approximately 2,506,740,000 KRW.

National and local governments, public institutions, and private sector businesses are required under the "Obligation to Employ Persons with Disabilities" system to employ persons with disabilities at a certain minimum rate. If the mandatory employment rate is not met, employers are subject to a "Disability Employment Levy."

In 2017 and 2018, when the mandatory employment rate was 2.9%, Suhyup Bank employed persons with disabilities at rates of 1.55% and 1.54%, about half the required level, and paid non-compliance penalties of approximately 227 million KRW and 284 million KRW, respectively. From 2019, when the mandatory employment rate rose to 3.1%, the employment rates of persons with disabilities decreased annually to 1.41% (2019), 1.32% (2020), 1.27% (2021), and 1.26% (2022), less than half the required rate.

Suhyup Bank is also expected to pay non-compliance penalties this year. As of September, Suhyup Bank's employment rate of persons with disabilities was 1.24%, which is below the mandatory employment rate of 3.1%.

Assemblyman Lee Yang-su stated, "It is problematic that Suhyup Bank is neglecting its social responsibility to employ persons with disabilities," adding, "Suhyup Bank should take a more responsible role in line with the purpose of the mandatory employment system, which was introduced to guarantee social participation opportunities for persons with disabilities."

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