Unionized workers at Kakao Bank to launch full-scale strike on July 31

KakaoBank's logo / Courtesy of KakaoBank

Unionized workers at internet-only Kakao Bank have voted to launch a full-scale strike July 31, as talks with management over wage increases and other benefits fell through, its union said Tuesday.

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

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.

Its parent Kakao Corp. also has been mired in a labor dispute as wage negotiations between management and labor have been deadlocked for the past two months.

Kakao's unionized members staged a partial strike in early June, which followed a full-day strike June 29.