Employees of Kyongnam Bank... > 경제기사 | economics

BNK Kyongnam Bank. Photo= BNK Kyongnam Bank

[Alpha Biz= Reporter Kim Sangjin] The union will take legal action against BNK Kyongnam Banks decision to collect all employees three-year bonuses. He protested against the banks decision following last years embezzlement of 300 billion won by an executive of Kyongnam Bank, saying it is passing the responsibility on to its employees.

The Kyongnam Bank branch of the Korean Financial Industry Workers Union released a press release on the 4th that "the labor unions position on the redemption of performance-based bonuses for Kyongnam Bank employees," saying, "The redemption of performance-based bonuses for ordinary employees is not a top priority for executives below the bank president."


According to the union, there is no similar precedent for employees to return wages and bonuses based on the results of revising their already completed financial statements and adjusting their net profits. "While the embezzlementer has worked in the same department Ministry of Investment and Finance for 15 years and committed the crime using a simple method, the priority is to analyze why the banks internal control and monitoring system did not work and come up with measures to prevent a recurrence," the union said. "The disciplinary procedures for those responsible should be completed by clarifying the responsibility."

"As BNK Financial Group operates Kyongnam Bank as a complete subsidiary, we also need a responsible explanation from the holding company," he said. "The performance-based bonuses that are part of the salaries of ordinary employees are unfair profits, and we need to explain why BNK Financial Groups dividends are not unfair profits first."

The conflict is expected to intensify. The union will appoint a law firm as soon as possible and start a lawsuit in earnest. Now I am asking all employees about their intention to participate in the lawsuit.

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/ Kim SangJin Reporter