Hello, I am Jun Ji-hye, a reporter at The Korea Times. I primarily cover financial authorities and write articles on a wide range of topics related to finance and capital markets. If you have any information to share, feel free to email me at jjh@koreatimes.co.kr, and I will review it carefully. I am committed to always doing my best to communicate with readers through high-quality articles.
Banks to close branches near Constitutional Court on day of Yoon’s impeachment ruling
Customers use ATMs of major banks in Seoul, March 26. Yonhap
By Jun Ji-hye
Major commercial banks in Korea will temporarily close their branches near the Constitutional Court on Friday, when the court is set to deliver its impeachment ruling against President Yoon Suk Yeol, industry officials said Thursday.
The banks made this decision due to concerns over potential safety incidents, as large crowds of supporters and opponents of impeachment are expected to gather near the court.
Shinhan Bank will temporarily close its two branches near the court on that day, and employees at the branches will be reassigned to alternative workplaces. The bank sent notifications to its customers regarding the closures.
Hana Bank will suspend operations at two branches near the court and designate its branch in Jongno and the 19th floor of its Euljiro headquarters as alternative service locations.
Woori Bank has also decided to close its Anguk Station branch near the court and will guide customers to alternative branches in the Jongno area.
KB Kookmin Bank has no branches located within 600 meters of the court. Still, the bank conducted inspections of fire extinguishers, emergency alarms and CCTV systems at 12 branches in the central Seoul and Yeouido areas, anticipating large crowds. Headquarters staff will be present on-site on the day of the ruling.
NH NongHyup Bank is strengthening monitoring at branches in other areas, including Yongsan District where the presidential office is located.
“In anticipation of potential escalations in protests surrounding the impeachment ruling, we have implemented an emergency response system to prevent any incidents,” an official at one of the major banks said.
Yoon was impeached by the National Assembly for allegedly violating the Constitution and laws by declaring martial law on Dec. 3.
The court will deliver its ruling at 11 a.m. on Friday.
Police have also heightened their security measures, raising their alert level to ensure public safety ahead of the ruling.