Ex-Bank Employee Let Go for Playing Crypto Games

A South Korean court recently upheld a bank's decision to dismiss an employee over "habitual" crypto gaming and inappropriate private lending practices.

The Seoul Administrative Court ruled in favour of the bank in a case related to the 2022 dismissal, though both the bank and employee remain unnamed in reports.

The individual, a bank employee since 1997 and formerly the head of lending at a branch, was investigated in 2022.

An internal audit found that the employee not only engaged in private money lending with loan clients but was also involved in online crypto gambling, which is illegal in South Korea.

South Korea is now a nation of gambling addicts thanks to crypto...

Why does this remind me of the Opium Wars? pic.twitter.com/YqSQsSJc31

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Despite restrictions, many South Koreans reportedly access such platforms through overseas servers.

Fired Staff Challenged Termination

The former employee contested the dismissal with the bank’s central HR board, which upheld the termination.

The individual then sought recourse from the Seoul Regional Labor Relations Commission, alleging unfair dismissal, but was again denied.

In response, the ex-employee filed a lawsuit, asserting they had "never gained unfair profits or shown preferential treatment" in private financial dealings with loan clients.

The former manager told the court:

“I only played one kind of PC game, and I did so after work hours. Furthermore, I did not convert the game’s cryptoassets into fiat. So what I did cannot be considered habitual gambling.”

However, the court sided with the bank, stating the termination was justified.

The presiding judge, Justice Kang Jae-won, said:

“All grounds for disciplinary action against the plaintiff are acknowledged, and the disciplinary action does not seem excessive considering the degree of misconduct.”

The ruling further emphasized that, regardless of whether gambling occurs outside work hours and does not directly impact job performance, it is considered "undignified" for bank employees to engage in crypto gambling.

Loans from high-interest second-tier lenders soar amid tight lending ruleshttps://t.co/LO9ldwYNHQ

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The Seoul Administrative Court noted:

“Gambling is immoral and should be condemned in itself.”

The court concluded:

“Furthermore, since the [ex-employee] suffered a significant financial loss through gambling, it could have had a negative impact on their overall work efficiency. If an employee in the financial industry gambles, there is a high possibility that they will commit additional crimes such as embezzlement to recover their losses.”