Shinhan Bank
Major South Korean commercial bank, part of Shinhan Financial Group.
Shinhan Bank is among South Korea's four largest lenders, which brought back 1,013 retired staff last year on short, lower-paid contracts while graduate hiring shrank, according to a News1 report of 3 November 2026.
Last refreshed: 6 November 2026 · Appears in 1 active topic
Why is Shinhan Bank rehiring retirees instead of graduates?
Timeline for Shinhan Bank
Rehired retirees on fixed-term contracts
AI: Jobs, Power & Money: News1: Korea's big banks rehire retireesBackground
Founded in 1982, Shinhan Bank is among South Korea's four largest lenders. A News1 report of 3 November 2026 said those four brought back 1,013 retired staff last year on short, lower-paid contracts while graduate hiring shrank.
It is the main banking subsidiary of Shinhan Financial Group, based in Seoul. Its parent reported first-quarter 2026 profit of ₩3.02tn, second among Korea's four main financial groups.
Shinhan sits in the group, with KB Kookmin, Hana and Woori, whose rehiring News1 described. Across the four, the returners matched almost four in five graduate hires, and they took posts in loan screening and internal control on fixed terms of up to two years. The same report said entry-level hiring at banks had dropped by about three in ten over two years. In effect, for Shinhan and its rivals, short contracts keep experienced staff on judgement calls while AI handles routine processing, and fewer starting posts open for graduates.
Are South Korean banks rehiring retired staff?
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Written with AI from Lowdown's published reporting. Not individually reviewed by an editor. Updated 6 November 2026. Editorial standards.