New IBK chief Yoon finally allowed to attend office

Industrial Bank of Korea CEO Yoon Jong-won listens to a remark from Financial Services Commission Chairman Eun Sung-soo while participating in a forum in Seoul on Jan. 22. Yonhap

By Lee Min-hyung

Industrial Bank of Korea (IBK) CEO Yoon Jong-won will be able to work from his office Wednesday for the first time in 27 days amid a fierce union protest.

Yoon was named the new chief of the state-run bank earlier this month. But the union members blocked him from entering the IBK headquarters in Seoul, denouncing him as a “parachuted bureaucrat” without any practical experience in the banking industry.

The union, however, has agreed to stop the protest, ruling Democratic Party of Korea floor leader Lee In-young said Monday.

“On Monday, both sides came to terms with each other and came to an agreement,” Lee said. “I express regret on behalf of the ruling party that the IBK management has failed to extend sufficient communication and reach consensus over labor system improvement.”

IBK will have an inauguration ceremony for Yoon today.