South Korea’s youth abandon finance careers, reject gruelling hours, high pressure

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South Korea News

Banking Sector,Financial Sector,Career

SEOUL, July 18 — Attracted by social prestige and the lure of money, new graduates have long envisioned themselves working in finance. But in South Korea, young people no longer...

In South Korea, young people no longer dream of a career in this sector, where long working hours and high pressure remain the norm. — ETX Studio picSEOUL, July 18 — Attracted by social prestige and the lure of money, new graduates have long envisioned themselves working in finance. But in South Korea, young people no longer dream of a career in this sector, where long working hours and high pressure remain the norm.

There are many reasons for these resignations, but most of them have to do with the corporate culture of the banking sector. In South Korea, as elsewhere, financial professions are notoriously demanding. The culture of “overwork” is omnipresent. These sacrifices are, of course, offset by high salaries. Employees of South Korea’s five biggest banks earn, on average, more than 100 million won a year, according to the Korea Times. And that’s not counting bonuses and other incentives.

They refuse to let their physical and mental well-being suffer as a result of their working life, and aspire to greater freedom. But in banking, it’s all about discipline.

 

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