Representative Yoon Chang-hyeon: “Jobs need to be restored through new businesses.”
It was found that the number of offline stores and employees in the banking and insurance industry has decreased rapidly over the past five years.
Accordingly, some point out that quality jobs should be created in the financial sector through regulatory innovation.
According to data from the Financial Supervisory Service submitted by the office of People Power Party lawmaker Yoon Chang-hyun, a member of the National Assembly’s Political Affairs Committee, the number of people working in the banking sector as of June this year was 116,582.
This is a decrease of 5,949 people compared to the end of 2018, 5 years ago (122,531 people).
The insurance industry has also seen a decline in jobs over the past five years.
As of June this year, the number of insurance company executives and employees (excluding planners) was 50,605.
Compared to the end of 2018 (59,459 people), there was a decrease of 3,854 people.
In the banking and insurance industry alone, 9,803 jobs have been lost over the past five years.
On the other hand, during the same period, the number of jobs increased slightly at mutual savings banks (9,181 → 10,042 people) and credit card companies (12,241 → 12,291 people).
Over the past five years, the number of new stores has been decreasing across the financial sector.
As of the end of June this year, the number of bank branches was 6,003, a decrease of 995 from the end of 2018 (6,998).
The number of insurance stores decreased by 1,529 from 6,239 to 4,710 during the same period.
There was also a decreasing trend in the number of stores in mutual savings banks (279 → 277) and credit card companies (256 → 171).
Representative Yoon Chang-hyeon said, “Branches and jobs are disappearing rapidly at the same time in the banking and insurance industry,” and “Efforts are needed to restore workplaces and jobs through regulatory innovation in traditional finance and expansion into new businesses.”
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2023-10-08 15:59:57
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