Unionized workers at No. 1 internet-only KakaoBank stage 1-day strike

Unionized workers at internet-only Kakao Bank launched a full-scale strike Friday over wage increases and other benefits, its union said. The labor union and Kakao Bank's management have been in negotiations over a pay raise and other benefits but failed to narrow differences. According to the union, over 700 unionized workers participated in the one-day strike but did not hold a rally. "We are discussing our future actions," the union said. In the first quarter of the year, Kakao Bank logged an operating income of 211 billion won ($143 million) on revenue of 1.94 trillion won, both quarterly highs. Its parent Kakao Corp. also has been mired in a labor dispute as wage negotiations between management and labor have been deadlocked for the past two months. Kakao's unionized members staged a partial strike in early June.