According to statistics from the Financial Supervisory Service, released by Rep. Yun Chang-hyun of the People Power Party, the number of employees in banks and insurance companies has dropped by almost 10,000 since the end of 2018. Bank jobs totaled at 116,582 in June, while the number of insurance employees, excluding insurance planners, was 55,605. In addition, the number of offline bank branches decreased to 6,003 from 6,998 and insurance companies saw a decrease from 6,239 to 4,710.
“As jobs and branches in the banking and insurance sectors are quickly disappearing, there needs to be efforts to deregulate the industry and seek out new business opportunities,” Yun said.
jaeyeon.woo@yna.co.kr
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