Customers visit a bank branch in Seoul (Yonhap)
SEOUL, Oct. 8 (Korea Bizwire) – The number of employees at banks and insurance companies dipped by nearly 10,000, data showed Sunday.
Bank jobs totaled at 116,582 as of June, down from 122,531 from the end of 2018, according to the Financial Supervisory Service statistics released by Rep. Yun Chang-hyun of the ruling People Power Party.
The number of employees at local insurance companies, except for insurance planners, came to 55,605, down from 59,459, the data showed.
Notably, the number of offline bank branches significantly went down, with 6,003 as of end-June from 6,998 at the end of 2018. That of insurance companies also showed a similar downward trend, with the number falling to 4,710 from 6,239 during the same period.
“As jobs and branches in the banking and insurance sectors are quickly disappearing, there needs to be efforts to deregulate the industry and seek out new business opportunities,” Yun said.
(Yonhap)
