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BOK chief calls for self-improvement of new employees

All News 11:34 January 05, 2017

SEOUL, Jan. 5 (Yonhap) -- The head of South Korea's central bank has called on new employees not to sit idle and develop, and improve their professional skills.

Bank of Korea Gov. Lee Ju-yeol also asked 64 new employees to have a higher sense of purpose to move forward and succeed at the bank.

"A highly capable workforce is made possible only when every single employee has professional skills," Lee said Monday in a speech at a ceremony welcoming new recruits at the bank's headquarters in central Seoul. The ceremony was also attended by parents of recruits.

Lee climbed to the top post at the BOK after joining the bank in 1977.

BOK chief calls for self-improvement of new employees - 1

The central bank has long been one of the most sought-after jobs among college graduates due to high salaries and job security.

Only 64 out of 3,930 aspirants joined the BOK in 2017, compared with 70 out of 4,031 applicants. The current starting salary for a new recruit is 42 million won (US$35,000), according to the BOK.

In South Korea, jobs in the public sector have long been called an "iron rice bowl" because of the solid job security. BOK employees retire at age 60 under the country's new retirement age that was extended by two years in 2015.

Meanwhile, South Korean commercial banks cut almost 3,000 jobs last year. Major banks in South Korea have made a series of job cuts in recent years to reduce costs and buttress their bottom lines amid a prolonged economic slowdown.


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