Sticker of credit card companies. (Photo: Yonhap News)

 

 

[Alpha Biz= Kim Sangjin] The credit card industry has entered a phase of tightening management, including workforce reductions, as part of efforts to cut costs.

Shinhan Card, the leading company in the credit card industry, initiated voluntary retirement applications last month and confirmed 62 candidates for the program.

KB Kookmin Card also recently conducted a voluntary retirement program for the first time in three years, while Hana Card began accepting voluntary retirement applications from employees born in 1969 on the 6th.

Woori Card is also considering voluntary retirements.

These voluntary retirement measures by credit card companies are being driven by growing concerns over worsening profitability due to ongoing reductions in merchant commission rates.

 

 

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