Banks to be open for an extra hour a day starting Jan. 30

A notice about operating hours is attached at a bank in central Seoul. [NEWS1]

Banks in Korea will be open from 9 a.m. to 4 p.m. starting Jan. 30, bringing to an end a year and a half of curtailed operations in which branches were open from 9:30 a.m. to 3:30 p.m.

The Korea Federation of Banks, an association representing banks operating in Korea, approved the change in operating hours, and all members must comply, according to a source in the banking industry.

The change came as Korea lifts the requirement for masks in most places starting Jan. 30.

All banks, including KB Kookmin Bank, Shinhan Bank, Hana Bank and Woori Bank, savings banks and foreign banks, will change their hours in accordance with the federation mandate.

Customers had been complaining about the shortened hours, while banks have been arguing that branches are not used so much any more because of online banking.

BY PARK EUN-JEE [park.eunjee@joongang.co.kr]