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Woori mulls zero-tolerance policy on corruption

Nov 27,2017
Woori Bank, Korea’s fourth-largest lender by assets, said Sunday that it was considering a “one-strike” policy to prevent corruption.

The bank came up with a list of 100 action items after discussions with 100 employees on Tuesday and Wednesday, the bank said in a statement. Among the proposed ideas, Woori underscored a one-strike policy of zero tolerance for employees and executives involved in embezzlement, bribery and other corruption.

The bank is also considering an “absolute evaluation” system based on the annual performance of its workers, rather than the existing “relative evaluation” conducted twice a year. It also plans to increase the share of workers from underprivileged populations to 3 percent of its workforce from the current 1 percent. Yonhap