Lotte Members, which runs L.Point, the Lotte Group's integrated membership, will accept applications for voluntary retirement for the first time since its founding in 2015, 10 years ago.
According to the retail industry on the 12th, Lotte Members announced on its internal bulletin board that morning that it will implement voluntary retirement. Eligible employees are those age 45 or older (born in 1982 or earlier) with at least five years of service at Lotte Group. Voluntary retirees will receive 30 months of base pay for five to 14 years of service, 33 months for 15 to 24 years, and 36 months for 25 years or more. The company will also provide 10 million won in reemployment support funds, 1 million won for reemployment training support, and 10 million won in tuition per college-age child.
A Lotte Members official said, "The implementation of voluntary retirement is a strategic decision to secure future growth engines and strengthen competitiveness as the adoption of AI (artificial intelligence) accelerates."
Lotte Group affiliates have been carrying out voluntary retirements one after another this year. The group's convenience store Seven-Eleven also carried out voluntary retirement last month to improve management efficiency, and LOTTE Chilsung Beverage and LOTTE Wellfood also implemented voluntary retirement this year.