KakaoBank union plans full-day strike July 31

Kakao Bank’s labor union has voted to hold a full-day strike on July 31 after wage negotiations collapsed, with mediation by the regional labor relations commission failing to narrow the gap between labor and management. About 300 union members participated in protests and a recent wave of “logout” actions, signaling broad dissatisfaction though the strike appears limited to Kakao Bank for now. The union’s decision followed a lack of sincere engagement from the company in negotiations, and comes as the Kakao group faces broader labor tensions, including earlier partial and full-day actions by the Crew Union at other affiliates. Kakao Bank’s financials for the first quarter showed operating income of 211 billion won on revenue of 1.94 trillion won, highlighting the economic stakes of the dispute amid the company’s restructuring and declining share price. Analysts note Kakao’s stock has fallen more than 50% over the past year, underscoring investor concern about how prolonged labor disputes could affect profitability and strategic plans. The union’s move follows a formal voting process and signals potential escalation if mediation fails, with the possibility of additional strikes by other Kakao affiliates depending on negotiations.