[Alpha Biz= Paul Lee] Controversy over overtime pay is intensifying at IBK Industrial Bank (IBK) as the bank continues to operate without a permanent president. The prolonged leadership vacuum has reportedly loosened decision-making structures, leading to labor-related disputes. Even President Lee Jae-myung has reportedly urged the bank to resolve the issue, but concerns remain.

According to financial industry sources on the 20th, internal disagreements between management and employees have emerged regarding the calculation and payment of overtime allowances. Some staff members claim that overtime pay has been restricted or that the criteria for payment are unclear, despite no reduction in workload. The bank, however, stated that operations are being conducted according to existing regulations and internal procedures.

The issue has drawn broader criticism of IBK’s internal management, as the leadership gap prolongs uncertainty within the bank. Kim Sung-tae completed his term as president on February 2, and Vice President Kim Hyung-il (Executive Director) is currently serving as acting president. While industry expectations initially anticipated a prompt appointment of the next president, the process has been repeatedly delayed.

As a policy finance institution, government decisions play a key role in the appointment process. However, delays in selecting a new president have left uncertainty within the bank, complicating the timely resolution of labor and personnel matters and creating ambiguity over accountability.

 

 

 

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