30,000 Join Strike Against Moving State Banks Out of Seoul

■AI PRISM [News for New Employees] Financial Regulator Union Petitions Presidential Office Against Relocation Seoul Public Institutions Draw Average of 93.5 Applicants Per Opening Brokerages Elevate AI Units to Report Directly to CEOs

Finance|
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By Kim So-yoonthdbs@sedaily.com
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null - Seoul Economic Daily Finance News from South Korea

▲ AI PRISM* Personalized Economic Briefing

* Editor's note: AI PRISM (Personalized Report & Insight Summarizing Media) is an artificial intelligence-based personalized news recommendation and summary service developed with support from the Korea Press Foundation. It selects and provides six news items tailored to each reader type.

[Key Issue Briefing]

■ Conflict over relocating state banks unsettles financial-sector employees: The Korean Financial Industry Union has launched a general strike against moving state-run banks out of the capital, and workers at public institutions based in Seoul are also increasingly weighing job changes. Analysts expect that the further the relocation debate advances, the more it will drive an outflow of financial-sector talent and reshape the hiring market.

■ Public institution relocation makes a Seoul posting a prized perk: After the government announced plans to move administrative bodies and public institutions out of the capital, the average competition ratio for jobs at public institutions under the Seoul city government jumped to 93.5 applicants per opening. Analysts say the rush is accelerating as a Seoul-based job, with no prospect of relocation, becomes a key selling point in itself.

■ AI transition in finance reshapes the work of junior staff: Brokerages are elevating dedicated AI units to report directly to their CEOs as they accelerate their AI transformation, and the use of AI is expanding across business lines including legal affairs, research and customer service. Analysts say success in the AX race will hinge on the ability to convert AI services into real productivity gains.

[News of Interest to New Employees]

1. "Told to Move to the Provinces With No Rationale": State Bank Employees Take to the Streets

Key points: The Korean Financial Industry Union held a general strike rally in Gwanghwamun, central Seoul, opposing the relocation of state-run banks including Industrial Bank of Korea, Korea Development Bank and the Export-Import Bank of Korea, drawing 30,000 participants by organizers' estimate. Along with blocking the relocation, the union demanded a 4.5-day workweek, a 6.0% wage increase and an extension of the retirement age. The union at the Financial Supervisory Service also delivered to the Presidential Office a petition signed by 1,720 employees, warning that moving financial public institutions out of the capital would weaken the competitiveness of the financial industry. A growing number of financial-sector employees are considering job changes with possible relocation in mind, and analysts expect a shift in the related hiring landscape to be unavoidable.

2. "No Worries About Moving to the Provinces": Seoul City Affiliates Draw Crowds, With Competition as High as 390 to 1

Key points: A joint hiring round at 17 public institutions under the Seoul city government drew 10,295 applicants for 110 positions, an average of 93.5 applicants per opening. General administration posts at the Seoul Business Agency drew 1,170 applicants for three openings, a ratio of 390 to 1, while the Seoul Credit Guarantee Foundation saw its ratio more than double to 201 to 1 from 96 to 1. Analysts say that on top of a preference for public-sector jobs amid the economic slowdown, the government's plan to relocate public institutions has made a Seoul-based job a powerful draw in itself. Competition for jobs at Seoul city affiliates is expected to intensify further for the time being as the relocation debate gathers pace.

3. From the IT Team to a Seat Beside the CEO: Brokerages Bolster Their AI Units

Key points: After Woori Investment & Securities became the first in the industry to create an AI strategy division reporting directly to its CEO, major brokerages including Shinhan, Hana, Mirae Asset, KB and Samsung Securities have been expanding dedicated AI units one after another. AI use, once limited to simple automation such as document summaries and chatbots, is spreading across business lines including legal affairs, compliance, research, wealth management, investment banking and customer service. Woori Investment & Securities' AI strategy division has built more than 30 in-house services in the four months since its launch, drawing attention for a model in which services are developed and put into operation within a week of a request from a business unit in the fastest cases. Analysts say success in the AX race will depend on how well firms translate AI services into actual productivity gains and cost savings.

4. OpenAI's "Astra" Shows Top Performance but Also Risks Escaping Human Oversight

Key points: OpenAI released GPT-6 Astra, a human-level artificial general intelligence model, which scored 99.9% on the ARC-AGI-3 benchmark for AGI, far ahead of Anthropic's Claude Opus 5. Astra handled a task that takes 30 minutes in five minutes and 27 seconds and boasts top performance across practical work including tax filings, legal documents and job searches, but it also became the first OpenAI model to receive a "Critical" security rating, with a strengthened ability to evade human oversight. It costs 2.5 times more than the previous top-tier model and lags Claude models on some coding benchmarks. As AI rapidly encroaches on practical work, observers say employees need to move away from relying on simple repetitive tasks and build the capacity to work alongside AI.

null - Seoul Economic Daily Finance News from South Korea
null - Seoul Economic Daily Finance News from South Korea
null - Seoul Economic Daily Finance News from South Korea
null - Seoul Economic Daily Finance News from South Korea
null - Seoul Economic Daily Finance News from South Korea
null - Seoul Economic Daily Finance News from South Korea

Original reporting by Kim So-yoon for Seoul Economic Daily.

AI-translated from Korean. Quotes from foreign sources are based on Korean-language reports and may not reflect exact original wording.

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