Unionized workers at No. 1 internet-only Kakao Bank to stage 5-day strike

KakaoBank logo / Courtesy of KakaoBank

Unionized workers at internet-only Kakao Bank will launch a five-day strike as talks with management over wage increases and other benefits have stalled, its union said Thursday.

The labor union and Kakao Bank's management have been in negotiations over a pay raise and other benefits but failed to narrow outstanding differences.

The union said the strike will run from Aug. 31 to Sept. 4.

On July 31, the unionized workers also went on a full strike.

In the first quarter of the year, Kakao Bank 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.