Lotte Chilsung Implements Voluntary Retirement Program for Employees Born Before 1980

Voluntary Retirement Applications Open to All Job Levels Until November 21
For Employees with 10 Years or More of Service

Lotte Chilsung Beverage is implementing a voluntary retirement program for employees who have been with the company for 10 years or more. This move is aimed at improving management efficiency and organizational structure.

On November 6, Lotte Chilsung Beverage announced, "We will be accepting voluntary retirement applications from all job levels until November 21." Eligible applicants are employees born before 1980 who have worked at the company for at least 10 years (those who joined before 2015).

Lotte Chilsung Beverage CI. Provided by Lotte Chilsung Beverage.

The company will provide severance payments equivalent to 20 months of base salary for employees with 10 to 14 years of service, and 24 months for those with 15 years or more. The base salary includes basic pay, fixed allowances, bonuses, and variable allowances. For those under the wage peak system, 40% of the remaining months' salary will be paid as severance.

Support for retirees is also included. The company will provide up to 10 million won in tuition support per college-aged child and an additional 10 million won as reemployment support.