Korean Bank Steps Forward to Innovate Business Practices | Be Korea-savvy

Korean Bank Steps Forward to Innovate Business Practices

Chief Executive Officer Cho Yong-byoung (C) visits a Smart Work Center. (image: Shinhan Bank)

Chief Executive Officer Cho Yong-byoung (C) visits a Smart Work Center in Seoul. (image: Shinhan Bank)

SEOUL, July 26 (Korea Bizwire) – Shinhan Bank, one of Korea’s leading banks, has stepped forward to improve its work environment for employees by implementing what it calls a ‘Smart Work System’, which launched on Monday.

To begin with, the company implemented a work-from-home system for employees who don’t necessarily require the use of a company’s computer network. Employees responsible for idea planning and product design and development are among those eligible to work from home. 

Shinhan is also operating ‘Smart Work Centers’, separate workspaces from existing offices. 

These centers are offered to employees who can work independently. For example, an ICT employee can work at one of these centers when engaged in individual work such as data analysis, documenting, planning, and research. Private banking and corporate relationship managers who spend most of their time outside the office can also take advantage of the new centers.

Operating in four locations in the Seoul metropolitan area, employees can also ease off from the official suit-and-tie dress code and dress much more freely at the centers, according to Shinhan. 

Furthermore, Shinhan is implementing a flextime system for employees who need adjustable work schedules to better suit personal, such as childcare, and professional circumstances, such as workers who need to work according to overseas time zones.

“We’re trying to create a more efficient working environment, in which employees are not bound by time or space,” said Cho Yong-byoung, Chief Executive Officer at Shinhan Bank.

By Kevin Lee (kevinlee@koreabizwire.com)

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