Labor union at SC First Bank to hold rally in mid-Sept.

SEOUL, Sept. 2 (Yonhap) -- Unionized workers at SC First Bank said Friday that they plan to hold a one-day rally in mid-September to protest the bank's move to adopt a merit pay system, showing no signs of easing tension between the two parties.
Unionized members at the South Korean unit of Standard Chartered Plc went back to work on Monday, but they will stage slowdowns at bank branches under a pledge to continue a partial strike down the road. On Wednesday, the labor union held a one-day walkout.
"As the management refused to have a dialogue with the labor side, the union plans to hold a rally around Sept. 15 after the fall harvest holiday," said an official at the Korean Financial Industry Union, an umbrella group of unionized local bank workers.
More than 2,500 unionized workers at SC First Bank have been on strike since late June, the longest walkout in the local banking sector, in opposition to the bank's move to overhaul the seniority-based pay scheme.
Richard Hill, chief executive of SC First Bank, said his bank will resume operations of its 42 branches that had been shut only after the ongoing labor dispute is resolved. The bank temporarily shut down about 10 percent of its nearly 400 branches due to the labor strike.
SC First Bank is the first lender operating in South Korea to seek an overhaul of the seniority-based salary scheme. Its unionized workers, who account for about half of the 6,500 bank employees, vehemently oppose the move, claiming that it is aimed merely at cutting labor costs and does not jibe with Korean culture.
The game of chicken between labor and management is increasing inconveniences for bank customers. The bank is adamant about introducing the new pay system, saying that it cannot continue to pay out high salaries without growth.
sooyeon@yna.co.kr