Convenience store Emart24 will carry out its first voluntary retirement since its founding.
Emart24 announced on the 9th that it is accepting participants for the voluntary retirement program "Career Renewal" for employees at Director General level and above (bands 1–2). The application period runs through the 19th of this month.
Career Renewal is characterized by not only one-time cash compensation but also granting opportunities to operate Emart24 stores. It maintains the relationship as a member of the company and offers individuals a chance to extend their careers.
Applicants have two options. Employees seeking to redesign their careers will receive a special severance payment equal to 24 months of salary in addition to the statutory severance pay. Outplacement support funds of 10 million–20 million won are also provided by rank.
The other option is Emart24 startup support. Employees who want to operate a store will receive a special severance payment equal to 12 months of salary in addition to the statutory severance pay and startup expense. The contract period is five years initially, with an additional five years available upon request, and store operation support funds are provided for the first three years after opening.
All applicants will receive 15 million won in living support and a travel voucher worth 2 million won. Employee discount programs for Emart, Starbucks, and Emart24 will also be maintained for five years.
Emart24 said, "We decided to implement this program to secure sustainable competitiveness amid the rapidly changing retail environment and to support a fresh start for employees who need a new career transition."