KakaoBank's labor union reaffirms 5-day strike next week
Members of Kakao's labor union partipate in a strike in Seongnam, Gyeonggi Province, Wednesday. Yonhap
The labor union of internet-only KakaoBank on Wednesday urged management to sweeten its wage deal as its members are set to launch a five-day strike amid little progress in their talks over wage increases and other benefits.
The labor union and KakaoBank's management have been in negotiations over a pay raise and other benefits but failed to narrow outstanding differences.
The union said earlier the strike will run from Aug. 31 to Sept. 4.
It argued that management should offer better wage proposals in order to avert the planned strike.
On July 31, the unionized workers also went on a full strike.
In the first quarter of the year, KakaoBank logged an operating income of 211 billion won ($143 million) on revenue of 1.94 trillion won, both quarterly highs.
Unionized workers at the bank's parent, Kakao Corp., and its management, meanwhile, reached a final wage deal earlier this month after a three-month dispute.
Also on Wednesday, unionized workers of Kakao affiliates, including KakaoBank, warned they will prevent the parent company from spinning off its chat-app-related businesses.
"The management is trying to evade responsibility by splitting the company, without holding accountable for failed management that has continued on for years," the head of the affiliate-wide union said, as they staged collective action near the company's headquarters in Pangyo, south of Seoul.
Kakao had announced last week plans to split the company into two entities — KakaoAI and KakaoX — to strengthen its artificial intelligence (AI) capabilities.