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RETAIL BANKING | Cesar Tordesillas, Korea

Labor strike prompts SC First Bank to temporarily close

SC First Bank temporarily shut down operations at 43 branches in a bid to minimize the impact of a prolonged labor strike, according to Yonhapnews.


Unionized workers at SC First Bank, the South Korean unit of Standard Chartered Plc., launched an indefinite strike on June 27 in protest of the management's move to introduce a performance-based pay system, causing bank customers to face inconvenience in using financial services.

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