HSBC Employees Picket Seoul, Korea

HSBC Employees in Korea are engaged in a dispute with the management over revision of wages. UNI affiliate KFCLU has made several attempts to since December 2009 to negotiate with the HSBC management in Korea. Aggressive attitude and the poor response of the management have forced the union to resort to trade union actions.
Twenty percent of the HSBC work force in Korea opted for voluntary retirement in 2009. HSBC employees shared the extra work load following their retirement and contributed heavily enabling the bank to earn substantial profits in the last year.

On 25^th November 2009, HSBC union members resorted to picket outside the HSBC head quarters in Seoul calling the bank to offer a reasonable wage increase as HSBC employees are drawing a lower salary in comparison with the local banks in Korea. President of KFCLU Jung Yong-Geun said there was no response from the management since they met on 6^th January 2009; hence they are compelled to lodge a complaint to the labour office. Labour commissioner has summoned the union for a discussion on 27^th January 2010

Woo Taik-Kyun, President of HSBC Korea union said that their effort to build up cordial relations with the management is difficult as the new CEO is apprehensive of the staff redundancy procedures in Korea.

The union is planning to picket outside the bank premises on 28^th January 2010 urging the bank to settle the salary dispute early.

Jayasri Priyalal
Director
UNI Apro Finance

HSBC Employees Picket Seoul, Korea
01/27/2010
Korea, Republic

	Twenty percent of the HSBC work force in Korea opted for voluntary retirement in 2009. Remaining staff shared the burden of extra work load and contributed to make substantial profits last year
HSBC Employees in Korea are engaged in a dispute with the management over revision of wages. UNI affiliate KFCLU has made several attempts to since December 2009 to negotiate with the HSBC management in Korea. Aggressive attitude and the poor response of the management have forced the union to resort to trade union actions. Twenty percent of the HSBC work force in Korea opted for voluntary retirement in 2009. HSBC employees shared the extra work load following their retirement and contributed heavily enabling the bank to earn substantial profits in the last year. On 25^th November 2009, HSBC union members resorted to picket outside the HSBC head quarters in Seoul calling the bank to offer a reasonable wage increase as HSBC employees are drawing a lower salary in comparison with the local banks in Korea. President of KFCLU Jung Yong-Geun said there was no response from the management since they met on 6^th January 2009; hence they are compelled to lodge a complaint to the labour office. Labour commissioner has summoned the union for a discussion on 27^th January 2010 Woo Taik-Kyun, President of HSBC Korea union said that their effort to build up cordial relations with the management is difficult as the new CEO is apprehensive of the staff redundancy procedures in Korea. The union is planning to picket outside the bank premises on 28^th January 2010 urging the bank to settle the salary dispute early. Jayasri Priyalal Director UNI Apro Finance

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