The Korea Financial Industry Union (Finance Union) will hold a general strike of 20,000 people tomorrow in opposition to the relocation of financial public institutions to local areas. The main demands include the introduction of a four-and-a-half-day workweek, prior agreement with the union on head office relocation, expansion of youth employment, extension of retirement age and improvement of the wage peak system, and wage increases. The Finance Union argues that local relocation weakens the competitiveness of the financial industry and strongly demands the maintenance of the Seoul headquarters. High participation rates are expected from union members of the three major policy banks, but participation from commercial banks is expected to be minimal.
