If you deposit KRW 1 billion, you will be provided with an internship at a large child company...a misunderstanding of the date of controversy
May 30, 2025
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According to Hong Kong media South China Morning Post, China's Industrial Bank in Fujian Province recently announced on an online bulletin board that it will help customers' children to do internships at famous domestic and foreign companies such as Google and JPMorgan.
However, to participate in the program, there was a condition that ordinary customers had to deposit 10 million yuan (about 2 billion won) and private banking customers had to deposit 5 million yuan (about 1 billion won).
When the news became known, an immediate backlash occurred on Chinese social media.
In particular, criticism has intensified that providing internships for privileged people hurts fairness at a time when the youth unemployment rate exceeds 15%.
In response, the China Development Bank suspended the program and bowed its head, saying it caused misunderstandings due to a lack of explanation.
The bank explained that it did not provide an internship directly, but only tried to connect it with an external recruitment consultant.
Among the companies mentioned by the bank, ByteDance and Zhongxin Securities immediately issued statements and said they had nothing to do with the program.
In recent years, university graduates are essentially conducting internships to increase their competitiveness in China.
According to a 2024 survey, 78% of graduates experienced at least one internship, and 33% performed more than one internship.
Some analysts say that as the value of internships at famous companies increases due to this trend, some companies are moving to commercialize them.
Regarding the controversy, an expert pointed out that `The China Industrial Bank is a violation of corporate social responsibility and has further raised public anxiety about fairness.'
Some analyzed that the program was likely a strategy to secure funds as Chinese banks were struggling to attract new deposits due to recent interest rate cuts.
This article was translated by Naver AI translator.
