[Edaily Reporter Kim Se-yeon ] For the first time since the launch of domestic internet banks, the likelihood of a strike in the industry has increased significantly. KakaoBank Corp.(323410) As labor and management at Kakao Bank have failed to reach an agreement on wage and collective bargaining negotiations, a full-day strike scheduled for the 31st is expected to proceed as planned. Observers predict that if this first-ever strike at an internet bank materializes, it will go beyond a simple labor-management conflict and have a significant impact on labor-management relations and compensation systems in the platform finance industry going forward.

According to financial industry sources on the 28th, the KakaoBank Corp. labor union will proceed with a full-day strike on the 31st as planned. Management and labor failed to find common ground during wage negotiations and were unable to bridge their differences even during a mediation session held by the Gyeonggi Regional Labor Commission on the 20th. This strike will take the form of a “Logout Day,” in which participating union members will use their annual leave or vacation days and then disconnect from the company’s internal work systems.
The union claims that dialogue has effectively broken down. It maintains that the company has shown a lack of willingness to negotiate as the talks have dragged on. Seo Seung-wook, chairman of the Kakao Branch of the National Chemical, Textile, and Food Industry Labor Union under the Korean Confederation of Trade Unions (KCTU), said during a picket protest held in front of KakaoBank Corp.’s headquarters in Pangyo, Seongnam, Gyeonggi Province, on the 21st, “Negotiations are currently suspended because the company canceled the labor-management talks at Kakao headquarters scheduled for last week and this week.” He added, “We plan to send an official letter today requesting the resumption of negotiations and demand a response within this week.” However, according to the union, as of today, no further negotiations have taken place.
Industry observers believe this strike will have a significant impact on the entire internet banking sector. Until now, there has never been a case of a union launching a general strike at an internet bank. Since Toss Bank and #Kbank also do not yet have unions, analysts suggest that KakaoBank Corp.’s first strike and the subsequent labor-management agreement could set a de facto precedent for future wage and welfare systems, as well as labor-management relations, within the internet banking industry.
In particular, some interpret that the SamsungElectronics(005930) strike will spark discussions on “N% performance-based bonuses” within the internet banking sector. Hwang Yong-sik, a professor of business administration at Sejong University, stated, “If the strike goes ahead, it will not only be the first strike in the internet banking industry but will also undoubtedly lead to discussions regarding performance-based bonuses,” adding, “Even if the details of the negotiations are not made public, there will certainly be parallels with the performance-based bonus practices at SamsungElectronics or SK hynix(000660).” He further analyzed, “Discussions regarding N% performance bonuses have been a consistent demand from workers at platform companies. The cases involving large corporations have brought these voices to the forefront.”
KakaoBank Corp. emphasized its commitment to resolving the issue through dialogue. A KakaoBank Corp. spokesperson said, “We are closely monitoring the situation, and the company will continue to strive to find an amicable solution through dialogue,” adding, “We will do our utmost to ensure service stability and business continuity so that customers do not experience any inconvenience.”