Unionized bank workers rally in Seoul against relocation, demand wage hike

• Thousands of unionized workers from state-run banks rallied in Seoul.
• The rally was a one-day walkout by members of the Korean Financial Industry Union (KFIU).
• Protesters opposed the government's potential plan to relocate bank headquarters out of Seoul.
• The union demanded a 6% wage increase, a 4.5-day workweek, and an extended retirement age.

Thousands of unionized workers from South Korean state-run banks staged a large street rally in central Seoul on Friday to protest the government's potential plan to relocate their headquarters outside the capital. Approximately 15,000 members of the Korean Financial Industry Union (KFIU) participated in the one-day walkout, the first of its kind since September 2025. The protest targeted policy lenders such as Korea Development Bank (KDB), Export-Import Bank of Korea (EXIM), and Industrial Bank of Korea (IBK), which are widely believed to be included in the government's relocation plan aimed at reducing concentration in the Seoul metropolitan area. In addition to opposing the relocation, the union is demanding a 6 percent wage increase, the implementation of a 4.5-day workweek, and an extension of the retirement age.