Banks slash hiring despite record earnings amid digital overhaul
Sung Chang-min, an office worker in his 50s, feels anxiety watching his son delay college graduation in pursuit of increasingly scarce banking jobs. “He was supposed to graduate last year, but banks had already cut back on hiring,” Sung said. “Since being unemployed after graduation doesn’t look good on a resume, he decided to put it off for another year, hoping his chances would improve as bank earnings have been rising. But the situation only got worse.” Sung referred to the country’s four largest commercial banks — KB Kookmin, Shinhan, Hana and Woori — which collectively plan to hire just 725 new employees in the second half of 2025. Combined with recruitment from the first half of the year, the four banks plan to recruit only 1,185 people in 2025, down 10 percent from the 1,320 new jobs created in 2024 and 37 percent less than the 1,880 hired in 2023. KB Kookmin Bank has steadily reduced its hiring, from 420 people in 2023 to 290 in 2025. During the same time span, Shinhan Bank recruitment numbers dropped from 500 to 190, Hana Bank from 460 to 320, and Woori Bank from
Oct 21, 2025By Yi Whan-woo
