Banks also on alert as signs of COVID resurgence emerge... Remote work measures reinforced again

by Kim Hyojin

Published 31 May.2020 16:55(KST)

On the 31st, citizens visiting the screening clinic set up at Ankara Park in Yeouido, Seoul, are undergoing COVID-19 testing. / Photo by Dongju Yoon doso7@

[Asia Economy Reporter Kim Hyo-jin] As cluster infections of the novel coronavirus disease (COVID-19) continue mainly in the Seoul metropolitan area, tension in the banking sector is rising again.

According to the financial sector on the 31st, Shinhan Bank decided to implement mandatory remote work for more than 20% of employees in operational departments starting next month on the 1st. The dual operation of the head office, which was implemented to prevent system shutdowns, will also be resumed.

Since the transition to the social distancing quarantine system on the 6th, essential operational departments had been working in a dual system while other headquarters departments switched to voluntary remote work, but the emergency measures have now been strengthened again.

KB Kookmin Bank, headquartered in Yeouido, Seoul, announced that employees who have visited the nearby Hongwoo Building or have children attending academies in the Hongwoo Building must immediately undergo COVID-19 testing after an academy instructor working in the Hongwoo Building was recently confirmed positive for COVID-19.

Additionally, the bank urged headquarters employees to refrain from dining out during lunch on the 29th and to strictly manage personal hygiene, including wearing masks for the time being. KB Kookmin Bank is also implementing distributed work by separating workspaces by unit and plans to have headquarters employees combine remote work starting next month on the 1st in preparation for the prolonged COVID-19 situation.

Hana Bank had somewhat relaxed remote work rules following the transition to social distancing but is now considering measures to require a certain percentage of employees to work remotely again due to the recent resurgence of COVID-19. Woori Bank and NH Nonghyup Bank are also considering measures such as reinforcing flexible remote work principles based on the nature of their operations.