Financial Workers Union Holds General Strike Rally in Gwanghwamun Today to Block Relocation of State-Run Banks

The Korea Financial Industry Union (KFIU) is holding a large-scale general strike rally around Sejong-daero in Gwanghwamun, Seoul, today (Sept. 4).

The union has reported that the rally, involving an estimated 30,000 members, will take place from 11:30 a.m. to 3:00 p.m. today along the section stretching from the Dongwha Duty Free Shop to Daehanmun in Jongno-gu.

The union's biggest pending issue in this year's labor struggle is to block the relocation of state-run banks—such as the Korea Development Bank (KDB), the Industrial Bank of Korea (IBK), and the Export-Import Bank of Korea (Korea Eximbank)—in opposition to the government-driven push to relocate public institutions to regional areas.

Amid these circumstances, the participation rate of union members from the three major state-run banks is expected to be exceptionally high in today's strike.

In addition, the union is demanding the introduction of a 4.5-day workweek, expansion of youth hiring, extension of the retirement age alongside improvements to the wage peak system, and a 6.0 percent wage increase.

The union stated that it could launch additional strikes depending on the outcome of future negotiations.
※ Please note: This article was translated by AI and may contain errors.