Unions call on Standard Chartered UK to resolve long running dispute in South Korea

Unions call on Standard Chartered UK to resolve long running dispute in South Korea

Representatives from the Korean Finance Industry Union (KFIU), Unite, UNI and the TUC yesterday delivered a letter, copied below, calling on Standard Chartered UK to resolve the month-long strike at its Korean subsidiary - the longest in the history of the Korean banking industry.

The General Secretaries of UNI, Unite and the TUC wrote to Peter Sands, the Group Chief Executive, calling on him to press Standard Chartered First Bank in Korea to open up a positive and constructive dialogue with the union to resolve the dispute. Standard Chartered accepted the letter, but continue to claim that this is a local matter.

(Representatives from the Korean Finance Industry Union and Unite hand over the letter to Standard Chartered UK's head of human resources, Wednesday, 27 July 2011.)

Peter Sands
Group Chief Executive

Standard Chartered PLC

27 July 2011

Dear Mr Sands

Dispute at Standard Chartered First Bank Korea

We are writing to you on behalf of UNI Global Union, Unite and the TUC to urge you to meet with Korean union leaders in London this week, seeking to resolve the ongoing dispute at Standard Chartered First Bank in South Korea.

We are deeply concerned that SC First Bank is seeking to impose an unfair performance based pay system on its workforce, among other changes. This system will undermine a Korean workplace culture built on teamwork that has a strong track record in delivering productivity, customer satisfaction, and employee loyalty.

Further, rather than negotiate change in good faith - something the union is ready and willing to do - SC First Bank management has imposed it, and is yet to make any good faith efforts to resolve the dispute.

Management's unilateral actions have triggered what is now the longest strike in the history of the South Korean finance sector. Each day it persists is tarnishing Standard Chartered's reputation, both in Korea and now globally.

Therefore we urge you to meet with the Korean leaders of the staff union in London this week, and to press your Korean subsidiary to open up a positive and constructive dialogue with the union to resolve the dispute.

Yours sincerely,

Philip Jennings

General Secretary UNI

Brendan Barber

General Secretary TUC

Len McCluskey

General Secretary Unite