Woori Bank to Implement 4.9-Day Workweek on April 3... Working Hours Also Adjusted

Working hours adjusted to 8:40 a.m. - 5:40 p.m.

Woori Bank: "No change to branch business hours"

NH Nonghyup Bank to implement 4.9-day workweek starting on the 27th

Woori Bank has set April 3 next month as the start date for implementing the 4.9-day workweek (1-hour early departure on Fridays) and has begun full-scale preparations, including adjustments to working hours.

This marks the third case among the five major commercial banks (KB Kookmin, Shinhan, Hana, Woori, and NH Nonghyup) to introduce the "4.9-day workweek in the banking sector" through labor-management agreements, following KB Kookmin Bank, which implemented it for the first time on the 6th, and Nonghyup Bank, which will begin on the 27th.

According to the financial sector on March 19, Woori Bank has reached a tentative decision to implement the 4.9-day workweek starting April 3.

A company official stated, "Although the labor-management agreement is not yet finalized, we have tentatively decided to implement the 4.9-day workweek for the first time on the 3rd of next month," and added, "There will be no change to business hours (9 a.m. to 4 p.m.), so customers will not be inconvenienced."

Accordingly, regular working hours will also be adjusted. The current working hours of 9 a.m. to 6 p.m. will be changed to 8:40 a.m. to 5:40 p.m. This measure is intended to reduce confusion in settlement work and improve efficiency arising from the 1-hour early departure on Fridays. By utilizing the 20 minutes before bank opening, staff can secure time for settlement and other tasks not involving direct customer service in advance.

Nonghyup Bank will also begin implementing the 4.9-day workweek on the 27th. Nonghyup Bank has chosen a method of allowing a 1-hour early departure only on Fridays, with no change to weekday start and end times. However, this will be implemented simultaneously at all Nonghyup Bank branches except for regional Nonghyups with separate collective bargaining entities.

With three out of the five major banks having confirmed their start dates, the remaining two—Shinhan Bank and Hana Bank—are also expected to decide on the timing for adopting the 4.9-day workweek sometime next month.

This discussion, which began with a focus on work-life balance and improving work productivity, gained momentum last October when the National Financial Industry Labor Union and the management body, the Financial Industry Employers’ Association, reached a dramatic agreement through negotiations.

A banking sector official explained, "Although the financial labor union and the employers' association negotiated, the details and processes of the second round of industry-level union negotiations differ for each union, resulting in different implementation dates for each bank," and added, "Shinhan and Hana Bank are also expected to implement the 4.9-day workweek soon."

The "Mortgage Refinancing Switching" service through an online and one-stop refinancing infrastructure exceeded 10,000 applicants within 15 days of its launch, and the application amount approached 1.8 trillion won. The photo shows an ATM of a commercial bank installed in Yongsan-gu, Seoul, on the 25th. Photo by Jin-Hyung Kang aymsdream@

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