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Banks will hire 2,700 new workers in 2nd half

Aug 28,2018
Commercial banks and public financial companies plan to recruit around 2,700 entry-level workers in the second half of the year.

That is slightly fewer than the 2,880 hired in the same period last year, but the whole of 2018 is set to see a large number of new hires at over 3,965, about 700 more than last year.

Commercial banks such as KB Kookmin, Shinhan, Woori and KEB Hana Bank are hiring about 2,000 workers, whereas public financial companies such as the Financial Supervisory Service, Bank of Korea and Korea Development Bank will hire 680.

Banks’ recruiting processes are facing heightened scrutiny in the aftermath of the hiring corruption scandal that has swept the financial sector since last year. Major banks, including Woori Bank and Shinhan Bank, were found to have offered jobs to unqualified children of company executives, lawmakers and financial regulators over better-qualified applicants.

The Financial Supervisory Service will use an internal service to monitor its entire recruiting process, from the point of issuing the recruiting plan to finalizing the list of successful candidates. The marks respective candidates receive during interviews will be immediately recorded to stop possible intervention.

The Bank of Korea has removed certain information from its application document, such as school name, grades, photo, gender and date of birth.

Commercial banks and financial public companies are considered by many job candidates to be dream workplaces. Korea’s top six commercial banks paid an average of 47.5 million won ($42,690) for the first half, translating into 95 million won in annual salary. The Korea Development Bank paid an average of 196.1 million won last year. Workers are mostly guaranteed jobs until retirement age, unlike the majority of conglomerate employees.

KT, the second-largest mobile carrier, announced on Monday that it would launch its latter-half recruiting process today. There will be 500 positions available across KT’s 15 subsidiaries and the carrier alone will hire 300 workers. KT, as an eponymous subsidiary, recruited 500 entry-level workers over the whole last year. This year, it is set to hire 550 newbies, up 10 percent.

The mobile carrier said it will focus on its 5G network and technologies related to the fourth industrial revolution in the recruiting process.

Korea’s 10 largest conglomerates have yet to confirm how many workers they will hire in the second half.


BY SEO JI-EUN [seo.jieun@joongang.co.kr]