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Bank holds off, for the moment

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After meetings with Korea Financial Industry Union (KFIU) and the Federation of Korean Trade Unions (FKTU), Cho Hung Bank labor union has decided to postpone the general strike, previously scheduled for Wednesday. The union is concerned over the government’s apparent desire to sell its stake in the bank. In spite of heightened tension between both sides, the Deputy Prime Minister Jeon Yun-churl, Cho Hung President Hong Suk-ju, and KFIU Chairman Lee Yong-duk met to discuss possible solutions. As of yet, nothing has come of the talk.

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