Why Korea's state-run banks are no longer seen as dream jobs

Korea's state-run banks are seeing more employees leave as weakening wage competitiveness and relocation concerns weaken their appeal among young professionals, industry officials said Monday. According to data from ALIO, the public disclosure system for state-run institutions, the turnover rate among male employees at Korea Development Bank (KDB) rose to 9 percent last year from 3 percent in 2021. The rate for female employees edged up to 1.6 percent from 1.5 percent. Over the same period, male turnover at the Industrial Bank of Korea (IBK) climbed to 6.2 percent from 1.7 percent. At the Export-Import Bank of Korea (Korea Eximbank), the rate for men rose to 4.1 percent from 3.2 percent, while turnover among women jumped to 2.6 percent from 0.7 percent. Average years of service have also declined across these lenders. KDB employees stayed an average of 185 months last year, down from 199 months in 2021. Similar declines were seen at Eximbank and IBK. Industry officials said state-run banks no longer offer the same advantages they once held over commercial lenders, particularly in terms o

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