Major local banks have added more than 6.5 trillion won to voluntary retirees in addition to legal retirement benefits, a report showed.
According to data submitted by Rep. Chun Joon-ho of the Democratic Party of Korea from the Financial Supervisory Service on the 9th, 14 banks operating in Korea paid a total of 6.542 trillion won to voluntary retirees from 2019 to August this year.
During this period, 16,236 employees retired voluntarily from these banks, receiving an average of KRW 429.4 million per person.
In addition to the legal retirement allowance, voluntary retirement is paid additionally and includes special retirement allowances, school expenses for children, and reemployment support. Some banks also provided medical expenses, medical expenses, and gift certificates.
The bank that paid the most voluntary severance pay is Citibank Korea. In 2021 alone, 2,130 voluntary retirements were received, and KRW 1.2794 trillion was paid as voluntary retirement benefits. The average voluntary retirement allowance per person was also the highest at 6608 million won, with some employees receiving nearly 770 million won in voluntary retirement.
KB Kookmin Bank received voluntary retirement every year from 2019 to last year, paying 1,246.7 trillion won in voluntary retirement benefits to 3,323 people. It paid an average of 375.19 million won per person.
Shinhan Bank paid 672.7 billion won (344.29 million won per person) to 1,954 people, Hana Bank paid 851.8 billion won (347.09 million won per person) to 2,454 people, and Woori Bank paid 807.8 billion won (416.4 million won per person) to 1,940 people.
Local banks also paid more or similar voluntary severance pay than major commercial banks.
iM Bank paid 151.2 billion won to 326 people from 2019 to last year, paying an average of 4639.1 billion won in voluntary retirement benefits per person. Busan Bank paid 157.3 billion won (412.96 million won per person) to 381 people and Jeonbuk Bank paid 35.5 billion won (43.85 million won per person) to 88 people.
Representative Chun Joon-ho said, "It seems that the retirement pension feast of the banking sector, which has gained enormous interest income from prolonged high interest rates, is excessive," adding, "We need to expand the return of profits to society."
Reporter Lee Yu Na from Digital News Team.
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