SSG.com Announces First Voluntary Retirement Since Launch... Targeting Employees with Over 2 Years of Service

Severance Pay Equivalent to 6-24 Months' Salary Based on Years of Service
Special Support Funds and Reemployment Services Also Provided

SSG.com, the e-commerce subsidiary of Shinsegae Group, is implementing its first voluntary retirement program since its establishment.

According to the distribution industry on the 5th, SSG.com announced the voluntary retirement plan through an internal notice this morning.

SSG.com CI. [Image provided by SSG.com]

The voluntary retirement program targets headquarters employees with more than 2 years of service (employees hired before July 1, 2022). Special retirement pay ranging from a minimum of 6 months to a maximum of 24 months of monthly salary will be provided based on years of service. Additionally, employees with children in preschool, elementary, middle, high school, or university will receive special support funds per child. Reemployment services will also be offered if the retiring employees wish.

The voluntary retirement applications will be accepted from today until the 19th, and eligible employees will retire as of the 31st of this month.

This is the first voluntary retirement since SSG.com was established as a corporation. Previously, SSG.com was established in March 2019 through a physical division from E-Mart.

It is also noteworthy that this voluntary retirement is being implemented immediately after the appointment of the new CEO, Choi Hun-hak. Shinsegae Group replaced the CEOs of its e-commerce affiliates, SSG.com and Gmarket, simultaneously on the 19th of last month. CEO Choi previously served as the head of the sales division (executive director) at SSG.com, and since his appointment, he has been focusing on organizational efficiency and profitability enhancement. At the time of CEO Choi’s appointment, SSG.com reduced its structure from four divisions (D//I, Sales, Marketing, Support) to two divisions (D/I, Sales).

An SSG.com official stated, "In an increasingly competitive e-commerce environment, we implemented this voluntary retirement to create an efficient organization and to expand various options for individual employees. We plan to provide appropriate compensation and the best support for a new start to employees who participate in the voluntary retirement."