Is your financial life inconvenient? ;Listen to Jz's grievances as well.

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One of the places where ordinary people feel inconvenience is at the bank. In fact, when Jz graduated from college in the 80s and was looking for a job, the places I thought were the worst were government jobs and banks for me. Jz already knew 40 years ago that this place would not develop and most boring. It was extremely conservative, and as an employer, they categorically rejected and even banned my gypsy style long hair. So, I joined a small but honest and excellent listed company, humbly learning the ropes. It was truly a time and connection I am thankful for, a benefactor of my life. My experience at this small company allowed me to cover almost all tasks in the Finance and Administration (Shared Service) sectors, from cost accounting in manufacturing, payroll, corporate tax, asset revaluation, treasury operations, investor relations, import/export tasks, to stock exchange and listed company tasks. Back then, I had to visit the bank daily for checking account operations (bill settlements), loans, foreign exchange L/C settlements, and bill discounting—all executed with physical documents and original paperwork. I always carried the corporate seal and nameplate in my bag for work, and on payday, I would take bundles of cash reserved at the bank in the president's car (a Japanese-made Super Saloon at the time), distribute it in sacks at each factory, where it would then be allocated into individual wage envelopes.

Suddenly reminiscing about the old days?

It's unclear when banks stopped progressing and failed to enjoy the internet age, but personally, over the past 40 years or so, my only interactions with a bank have been the annual visit for loan renewals and the occasional monthly use of an ATM to withdraw cash. Although it was fascinating when the paper scribbling and signing for loan renewals were replaced by electronic signatures at some point, I wonder if that's really progress? Waiting in front of a bank teller for an hour just to do that...

It's not just my inconvenience; I can't help but think about the inefficiency of bank clerks and why banking costs are inevitably high. Banking is an area where the state grants a monopolistic authority and business rights. If this sector is inefficient, then it's time for all of us to review and improve the reasons for this. Instead of imposing endless hardships on citizens with things like joint authentication certificates(Digital certificates) for evasion purposes, and burdening well-intentioned foreign investors, we should ponder how to reinvent ourselves as an international financial hub in Far-east Asia. Korean banking can develop too; it can be reborn as a world-leading industry like the semiconductor industry, elevating the status of K-Bank and helping to alleviate the polarization of capitalism.