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Over 12,000 jobs lost in 3 yrs in financial industry

All News 10:13 January 11, 2017

SEOUL, Jan. 11 (Yonhap) -- South Korea's financial industry cut more than 12,000 jobs in the past three years, hit by a drawn-out economic slump, data showed Wednesday.

The number of financial sector workers fell 5.6 percent to 207,000 at the end of the third quarter of 2016 from 220,303 three years earlier, according to CEO Score, a corporate management evaluation agency.

It analyzed the employment situations at a total of 102 financial services firms nationwide.

The number of rank and file workers fell to 205,662 from 217,885, while that of executive-level officials decreased 3.7 percent to 2,328.

Especially, the number of jobs at the nation's top 30 brokerage firms dropped 12.6 percent to 33,737 during the period.

On the other hand, the Korea Development Bank, a state-run policy lender, hired 777 more workers. The number of workers at the Industrial Bank of Korea and NH Bank rose by 583 and 326, respectively.

A screen capture provided by Yonhap News TV about job cuts at South Korean securities firms (Yonhap


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