SEOUL, May 18 (Korea Bizwire) – Citibank Korea, the local unit of U.S. banking giant Citigroup, said Wednesday that it will convert almost all nonregular workers on its payroll into regular employees by the end of this year.
Citibank Korea said the beneficiaries include about 300 tellers and other workers with low wages, which account for 8.5 percent of its total staff.
Bank CEO Park Jin-hei said the agenda to change contract employees toregular staff has been part of an agreement between the management and workers.
“In pursuit of broader benefits, however, we will convert about 300 open-end contract tellers and general clerical employees to regular staff this year,” Parks said in an email sent to all employees Tuesday.
The decision does not affect dealers, lawyers and other high-paid nonregular employees.
The move came just days after South Korea’s liberal President Moon Jae-in took office with a promise to remove all nonregular jobs in the public sector during his five-year presidency.