Key facts
- Unionized workers affiliated with the Korea Financial Industry Union (KFIU) will strike on Friday.
- The strike is a protest against the government's plan to relocate policy lenders and public financial organizations from Seoul.
- The KFIU is also demanding a pay raise, a shortened workweek, and an increase in the hiring of young people.
- The union argues that the relocation plan will negatively impact workers' lives and the financial industry.
- The government has a long-term project to promote balanced national development through relocation of public institutions.
Unionized workers affiliated with the Korea Financial Industry Union (KFIU) are set to strike on Friday, opposing the South Korean government's initiative to relocate policy lenders and other public financial organizations from Seoul to provincial areas. The KFIU, a major umbrella labor group, stated that its members will hold a rally in Gwanghwamun Square as planned.
While specific details regarding the timeline and institutions affected by the relocation remain unclear, public financial institutions are reportedly against the plan due to the government's firm commitment. The union is also advocating for a pay increase, a reduced workweek, and more opportunities for young job seekers.
"We can't accept relocation plans without deep talks with interested parties," the KFIU said, asserting that the move would harm workers' livelihoods and the broader financial industry. The union further alleged that the relocation plan is a political maneuver aimed at undermining policy lenders by excluding financial workers.