As voluntary retirement season begins in the banking industry, incentives offered to entice workers to retire early seem less favorable this year despite the sector s robust earnings. This adjustment is a response to public criticism, accusing banks of offering substantial payments to employees while the public faces heightened debt burdens from high interest rates.
As voluntary retirement season begins in the banking industry, incentives offered to entice workers to retire early seem less favorable this year despite the sector s robust earnings. This adjustment is a response to public criticism, accusing banks of offering substantial payments to employees while the public faces heightened debt burdens from high interest rates.
With the price of gold peaking at its highest level in Korea, sales of gold bars at major local banks exceeded 2.49 billion won ($1.89 million) during the four days from last Monday to last Thursday. According to the local banking industry, the aggregate amount of gold bars sold at four major banks - KB Kookmin, Hana, Woori and NH NongHyup - from April 3 to 6 stood at 2.49 billion won. It is more than 63 percent of gold bar sales at the banks during the entire month of March when gold bars amounting to 3.95 billion won were sold.
The price of gold has been rising amid increased uncertainty hovering over the global financial banking sector. While the global price of the precious metal nears its record high reached during the summer of 2020, its trading price at the Korea Exchange (KRX) gold market hit an all-time high recently.