Open to employees aged 45 and older or with at least 10 years of service

Lotte Chilsung Beverage's headquarters in Jamsil, Seoul. [Lotte Chilsung Beverage]
Lotte Chilsung Beverage's headquarters in Jamsil, Seoul. [Lotte Chilsung Beverage]

Lotte Chilsung Beverage announced Monday it will launch a voluntary retirement program, its first since November last year, citing the need to secure sustainable growth amid a rapidly shifting business environment.

The program targets employees born on or before Dec. 31, 1981 — those aged 45 or older — as well as staff with at least 10 years of service. Participation is strictly voluntary.

Severance packages will be tiered by length of service. Employees with 10 to fewer than 15 years of service will receive 20 months of base compensation — covering base salary, bonuses and allowances — while those with 15 or more years will receive 24 months. The company will also provide a reemployment support payment of 10 million won ($7,480) and cover college tuition for up to one dependent child, capped at 10 million won per child.

"This is aimed at strengthening our core competitiveness through business efficiency and transforming into a future-oriented growth organization," a company official said, adding that the program would be limited to employees who apply voluntarily.


siuu@heraldcorp.com