Starting next April, bank branch opening hours are expected to be delayed from 9 a.m. to 9:30 a.m. This follows an agreement between financial sector labor and management to reduce operating hours by 30 minutes. Closing hours will remain at 4 p.m.
According to the financial and labor sectors on the 28th, both sides have reached a tentative agreement on this matter and concluded industry-wide central negotiations. The agreement was finalized five months after negotiations began in April.
Under the agreement, bank branch operating hours will be shortened by 30 minutes starting next April. The opening time will be delayed from the current 9 a.m. to 9:30 a.m. Both sides explained that this adjustment considers the need for employees to arrive before 9 a.m. to open at the original time.
Excluding temporary reductions during the COVID-19 pandemic, this marks the first change to regular operating hours in 18 years. In April 2009, the financial sector advanced operating hours by 30 minutes, from 9:30 a.m. to 4:30 p.m. to 9 a.m. to 4 p.m.
At the time, both opening and closing hours were adjusted to maintain a seven-hour operating day. However, this time, only the opening hour is delayed while keeping the closing hour unchanged, resulting in a 30-minute reduction in daily operating time.
Both sides also introduced an autonomous commuting system to balance work and life. Employees can delay their start time by up to one hour per week or 30 minutes per day. The total wage increase rate was set at 3%, and the management side agreed to cover the financial burden for hiring young workers. Additionally, parental leave eligibility was expanded to employees with children up to the sixth grade of elementary school.
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