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Figures suggest that banks which saw substantial cash injections from the public purse offer the most attractive pay and benefit packages to their staff.
Grand National Party lawmaker Lee Han-koo¡¯s analysis of reports from the Financial Supervisory Service (FSS) found that the average pay of staff at Korea Development Bank (KDB), Export-Import Bank of Korea (Korea Eximbank) and Korea First Bank was some W64-70 million (US$64,000-70,000) last year --much higher than a bank's average employee salary of W59 million. The three banks received between W2 trillion to W17 trillion in public fund injections since 1997. Average Korean workers took home W28 million last year.
Lee also said about 10 percent of non-executive staff at KDB and the Export-Import Bank earned more than W100 million a year. Only 9.6 percent (W200 billion out of W2.799 trillion) of public money ejected into the Export-Import Bank has been paid back. KDB recouped 30.9 percent (W9,7478 trillion of W3.127 trillion) of the cash injections, well below the 59.1 percent average recovery rate of banks.
(englishnews@chosun.com )
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