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FSC to issue guidelines for converting temp workers

Sept 19,2017
Korea’s financial watchdog said Monday that it would present comprehensive measures later this month to give permanent jobs to temporary workers currently employed at state-run institutions.

The move comes as the Moon Jae-in government is pushing ahead with the implementation of Moon’s presidential campaign pledge to reduce the number of so-called irregular workers and increase employment of regular workers. Officials at the Financial Services Commission said guidelines will be set for the full-time employment of some temps.

Of the 21,630 employees at state-run financial institutions, about 6,000 are working as temporary workers, the officials said. They added that about 1,000 irregular workers should be able to get permanent worker status by the end of the year.

The total includes 420 at the Industrial Bank of Korea, 150 at the Korea Credit Guarantee Fund, 121 at Korea Development Bank, 118 at the Korea Housing Finance Corporation, 84 at the Korea Depository Insurance Corporation, 74 at the Korea Securities Depository and 12 at the Korea Asset Management Corporation.

The commission will expedite permanent employment of the temporary workers, including dispatched labor, if contracting firms and their subcontractors agree to the switch.

Choi Jong-ku, chairman of the Financial Services Commission, recently said his agency would take the lead in increasing the number of permanent jobs in state-run financial firms so that the private sector can follow suit.

Out of 98,306 employees in the country’s private financial institutions, about 25,000 are temporary workers. Yonhap