Financial companies in South Korea cut nearly 1,800 jobs last year amid an industry slump, market data showed Monday.

As of the end of 2015, the number of people employed by financial firms, such as banks and securities companies, came to 373,609, compared to 375,402 a year earlier, according to data from the Financial Supervisory Service.


The largest job reduction came in commercial banks, which cut 1,930 jobs. Next were insurers which slashed 799 payrolls, while the number of workers at nonlife insurance companies also dropped by 674 over the cited period.

Savings banks, on the other hand, added 583 new jobs last year with the number of employees reaching 8,554.

Asset management firms and finance leasing companies each added 337 and 311 new jobs, respectively.

(khnews@heraldcorp.com)