Major banks shrink entry-level hiring amid AI shift

Korea's major banks are hiring fewer entry-level employees as they expand the use of artificial intelligence (AI) and continue to close branches, making the job market tougher for young people seeking careers in finance, industry officials said Wednesday. The banks have recently begun their open recruitment for the second half of the year. Woori Bank is accepting applications through Aug. 8. While it has not disclosed how many people it plans to hire, the bank is expected to recruit fewer than 100 new employees, down sharply from the 190 it hired in the second half of last year. KB Kookmin Bank is taking applications for about 160 entry-level positions through Sept. 9, while the Industrial Bank of Korea plans to hire 175 new employees, with applications open through Sept. 14. Other major banks are expected to announce their hiring plans soon, but industry officials say the overall number of positions is unlikely to increase. The trend is already evident in figures shown in the first half of this year. The country's four major banks — KB Kookmin, Shinhan, Hana and Woori — hired a combin