KB Kookmin Bank announced on the 25th that it will implement an "early leave system" shortening work hours by one hour every Friday.
"The Friday early leave system was established to enhance work-life balance for employees and improve productivity, in line with the government's initiative to reduce actual working hours," the bank stated in an official press release.
The so-called "4.9-day workweek" will begin voluntary implementation on the 27th before full implementation on January 6th, following a recent collective bargaining agreement between labor and management.
Bank operating hours will remain unchanged from 9 a.m. to 4 p.m. The bank plans to maintain operations without disruption to customer services. Specialized branches with separate operating hours, including the "9 To 6 Bank" and Incheon International Airport branch, will also maintain their existing schedules.
The agreement includes a 3.1% wage increase for regular employees, 300% bonus payment (250% cash plus 50% employee stock ownership), and 7 million won in benefits (6.5 million won in cash-equivalent points plus 500,000 won in welfare points).
KB Kookmin Bank posted record operating profit of 11.4 trillion won last year, with 10.66 trillion won derived from net interest margin—the spread between lending and deposit rates. The surge in household and corporate loans following COVID-19 was a major factor.
Opinions are divided on whether allocating these increased profits toward employee bonuses and reduced working hours is appropriate. According to Financial Supervisory Service disclosures, the average annual salary per KB Kookmin Bank employee reached 118 million won in 2024.
The bank's emphasis on alignment with "government policy direction" is also notable. All five major banks—KB, Shinhan, Hana, Woori, and NH NongHyup—plan to implement the 4.9-day workweek this year, following an industry-wide agreement reached last October between the Korean Financial Industry Union and the Financial Industry Employers' Association.