FSS survey finds 85.6% would consider quitting over Seoul relocation

Some 85.6% of employees at South Korea's Financial Supervisory Service (FSS), the country's financial regulator, said they would consider quitting if the agency were relocated outside Seoul, according to a labor union survey. The survey of 1,538 employees, conducted through the FSS internal network from the 18th to the 21st, found that 69.7% intended to resign outright, while fewer than 15% said they had no intention of leaving. Among employees under 40, 92.5% expressed an intention to leave when neutral responses were included, while 90.6% of employees holding accounting licenses and 94.2% of lawyers gave a neutral-or-higher response. The findings have intensified concerns that relocation could drain frontline supervisory expertise and professional talent from the FSS, which has 2,190 employees, including 770 accountants and lawyers and 1,050 professional staff when actuaries, tax accountants and doctoral degree holders are included. Unions at the FSS, the Korea Deposit Insurance Corporation and three state-run banks are organizing rallies, a press conference and possible strikes to oppose a move. The Korean Financial Industry Union plans a general strike rally in Yeouido on the 28th and a general strike on the 4th of next month if the government advances the relocation.

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