Following 'Tada', Socar Also Offers Voluntary Retirement

Jaeuk Park, current CEO of Socar (left), and Jaewoong Lee, former CEO of Socar (right)

[Asia Economy Reporter Bu Aeri] Following VCNC, the operator of the van call service 'Tada,' its parent company Socar is also accepting voluntary retirement applications from employees.

On the 9th, Socar announced that it would accept voluntary retirement applications from all employees.

In a notice sent to employees, Socar stated, "In order to respond to internal and external crisis situations and maximize organizational capabilities based on profitability, we will undertake a major organizational restructuring," adding, "To overcome the current management crisis and restore sustainability, we inevitably plan to proceed with voluntary retirement." Socar also announced that it would provide a consolation payment equivalent to three months' salary to those who opt for voluntary retirement.

Regarding this, a Socar official said, "Due to the passage of the Passenger Transport Service Act and the impact of the novel coronavirus infection (COVID-19), the company's management conditions have rapidly deteriorated, leading to the implementation of emergency management," and added, "We plan to accept voluntary retirement applications until next week."

As Tada's Basic service is set to end at midnight on the 11th, VCNC, the operator of Tada, also announced last week that it would accept voluntary retirement applications from all employees.