Woori Bank
Major South Korean commercial bank, part of Woori Financial Group.
Retirees, not graduates, are filling seats at Korea's four biggest banks, Woori Bank among them: News1 reported on 3 November 2026 that they rehired 1,013 former staff last year as entry-level hiring fell about 30% over two years.
Last refreshed: 6 November 2026 · Appears in 1 active topic
Why is Woori Bank rehiring retirees instead of graduates?
Timeline for Woori Bank
Rehired retirees on fixed-term contracts
AI: Jobs, Power & Money: News1: Korea's big banks rehire retireesBackground
Woori Bank is the main banking subsidiary of Woori Financial Group, based in Seoul. It traces its roots to Daehan Cheon-il Bank, founded in 1899. Woori Financial reported first-quarter 2026 profit of ₩2.30tn, the smallest of Korea's four main groups.
Woori is one of the four lenders, with KB Kookmin, Shinhan and Hana, covered by News1's count of rehired retirees. The returners, 1,013 across the four last year and equal to 79.1% of graduate intake, handle credit checks and internal control on contracts of up to two years at reduced pay.
News1 described returners taking judgement work while AI takes on repetitive tasks; in effect, Woori keeps seasoned staff without the expense of training new entrants. Graduates bear the cost in fewer starting posts.
Are South Korean banks rehiring retired staff?
Who owns Woori Bank?
Why are South Korean banks hiring fewer graduates?
Written with AI from Lowdown's published reporting. Not individually reviewed by an editor. Updated 6 November 2026. Editorial standards.