Unionized bank workers are set to stage a general strike from October 15 over failed wage negotiations with management.

The Korean Financial Industry Union said Friday that the decision was reached Thursday during a meeting of representatives of its local chapters.

The union said the reps agreed on the need to exert all-out efforts for victory in wage negotiations as it appears impossible to reach a deal under the current conditions.

The union is demanding a four-point-three percent hike in wages for regular workers, while employers proposed one-point-two percent. 

The union consists of 38 branches involving 100-thousand workers. It says it will hold a press conference on the eve of the strike to announce how the walkout will proceed.

Union leaders will also begin all-night sit-ins from next Thursday.