The labor union at KakaoBank has begun a work-to-rule campaign, refusing overtime and holiday work after its first full-day strike failed to produce a wage agreement. Industry observers argue that even though KakaoBank's average salary far exceeds 100 million won, the union is fixated on improving working conditions rather than on payment settlement and financial stability, the core duties of a bank.
The Kakao branch of the Chemical, Textile and Food Industry Workers' Union, affiliated with the Korean Confederation of Trade Unions, began the campaign at midnight, according to financial industry sources on the 12th. The union secured the right to industrial action through a vote after the Gyeonggi Regional Labor Relations Commission issued a decision to suspend mediation on the 20th of last month.
Union members taking part in the campaign work only within a range that does not exceed an average of 40 hours per week, based on monthly working-hour settlements. They also decline night, extended and holiday work.
Members have decided not to accept work instructions by phone or messenger after their working hours end. They also plan not to respond to emergency system-failure requests or demands for immediate action that fall outside the scope of the collective agreement. The union argued that "the responsibility to build service continuity and a system-failure response framework lies with the company, which must secure adequate staffing and work systems."
KakaoBank's average employee salary was 125 million won last year. Among male employees, it reached 144 million won. That far exceeds the levels at conventional banks. Average salaries last year stood at 119.63 million won at KB Kookmin Bank, 118.23 million won at Woori Bank, 116.92 million won at NongHyup Bank and 114.96 million won at Shinhan Bank.
KakaoBank's parental leave usage rate last year was 96.2% for female employees and 17.9% for male employees. Of the total 1,806 employees, 1,765 use the flexible work system. One financial industry official said, "For a bank, payment settlement and financial stability are the top priorities," adding, "It still seems to think of itself as an information technology company rather than a financial firm."
Suh Seung-wook, head of the Kakao branch, said the campaign "is an action to create an environment where members can work sustainably and a stable service operating system."
