Korean bank workers postpone anti-privatisation strike
On November 19, staff at the state-owned Chohung Bank called off a scheduled two-week strike after the South Korean government postponed selecting a buyer for the bank when it is sold in December.
On November 19, staff at the state-owned Chohung Bank called off a scheduled two-week strike after the South Korean government postponed selecting a buyer for the bank when it is sold in December.
The bank뭩 5,400 union members oppose the privatisation plan, fearing that it will result in layoffs and cuts in working conditions. The bank has over 7,000 employees.
The strike was due to begin on the day the Public Fund Oversight Committee, which oversees privatisations, made its decision on potential buyers. Four bidders are believed to be considering purchasing the bank. They have asked the government for one more week to finalise their bids, alleging that the bank union has prevented them from examining certain financial records.
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