Unionized employees at Kakao Bank have voted to launch a full-scale strike scheduled for July 31, following the breakdown of negotiations with management over wage increases and employee benefits.
The labor union confirmed the decision on Tuesday, marking a significant escalation in labor relations at the country's leading internet-only financial institution.
The timing of the industrial action presents a direct operational risk for the lender.
Kakao Bank is currently in the midst of executing a strategic acquisition of Mastern Capital, a move designed to expand its footprint and diversify its revenue streams.
A strike involving unionized staff could disrupt customer service channels, delay integration processes, and create uncertainty for investors monitoring the bank's execution capabilities during this critical transition period.
The dispute centers on compensation packages and working conditions, issues that have become increasingly contentious in the South Korean financial sector as digital lenders compete for talent against traditional banks and technology firms.