South Korean banks will begin operations an hour later than usual on Thursday due to the national college entrance exam, a local association of banks said Tuesday.

Around 520,000 high school seniors and graduates were to take the College Scholastic Ability Test on Thursday.

In a move to help ease traffic in the morning hours, banks will open from 10 a.m. to 5 p.m., rather than their usual operating hours from 9 a.m. through 4 p.m., according to the Korea Federation of Banks.

Such an adjustment is expected to be implemented in other financial institutions, though there could be exceptions for some branches located in airports and industrial complexes, among other places, officials said. (Yonhap)