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Market Chatter: Kakao Bank's Unionized Workers to Hold Full-Scale Strike on July 31

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Unionized workers at Kakao Corporation (KRX:035720) subsidiary Kakao Bank voted to carry out a full-scale strike on July 31 after failed talks with management over salary hikes and other benefits, Yonhap News reported Wednesday.

The bank's union and management are at odds over wages and benefits after no agreement was reached during negotiations, despite the bank posting record first-quarter operating income and revenue, the report said.

Kakao Corp. has also faced continued wage-related disputes, with union members carrying out strikes last month, according to the report.

The company did not immediately respond to a request for comment from.

Shares of Kakao Corp. added over 2% in recent trade.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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