Even Those in Their 40s Are Leaving... Over 2,000 'Six-Figure Salary' Bankers Opt for Voluntary Retirement

[The Financial News] This year, voluntary retirement is once again sweeping through domestic banks. The eligible age has dropped to the early 40s, intensifying a sense of crisis.

According to the financial sector on the 17th, Shinhan Bank began accepting voluntary retirement applications on the 15th. Eligible employees include those above deputy branch manager with at least 15 years of service and born after 1967; employees at grade 4 or below with at least 15 years of service and born in or before 1985; and retail service staff with at least 10 years of service. Those born in 1985 are 40 years old.
The special severance pay is set at 7 to 31 months of base salary, depending on the year of birth. Those who opt for voluntary retirement will leave the bank on January 2 next year.
NH Bank also accepted applications for voluntary retirement from December 18 to 21 last month, confirming 446 recipients. This marks a third consecutive year of increases, compared to 391 last year and 372 the year before.
Employees born in 1969 will receive 28 months of their average wage upon retirement, while general staff aged 40 or older with at least 10 years of service will receive 20 months of their average wage.

At the start of this year, 647 employees at KB Kookmin Bank, 541 at Shinhan Bank, 429 at Woori Bank, and 263 at Hana Bank (including both halves of the year) opted for voluntary retirement, totaling 1,880. With the year-end figures from NH Bank, the number of voluntary retirements at the five major banks is expected to surpass 2,000. Including Suhyup Bank and others that accepted applications last month, the total is likely to increase further.
As a result, the number of bank employees continues to decline. In the first half of this year, the total number of staff at the five major banks was 71,548, down 1,077 from 72,625 a year earlier. The reduction in branches has had a significant impact. As of the first half, the five banks operated 3,759 domestic branches, 161 fewer than the 3,920 branches a year ago.
gaa1003@fnnews.com Ahn Ga-eul Reporter