Lotte Construction will implement a voluntary retirement program mainly for long-term employees and those subject to the wage peak system.
On the 13th, Lotte Construction posted a notice on the company intranet announcing plans to implement voluntary retirement. Applicants will receive severance pay of up to 30 months of base salary, depending on years of service. An additional special severance payment of 30 million won will also be provided.
In addition, children in college or below will receive 10 million won per person in tuition support. Those who wish will also be offered reemployment consulting and other services.
A Lotte Construction official said the aim is to improve the organization's structure and strengthen competitiveness through virtuous workforce circulation, adding that it is a measure to build a younger and more resilient organization.
Lotte Construction emphasized that it plans to carry out new hiring in parallel with voluntary retirement. The company hired 39 new employees in the first quarter and plans to continue hiring both entry-level and experienced workers in the second half.