[Edaily Reporter kim mi-kyung ] LotteChilsungBeverage is implementing a voluntary retirement program. This comes one year after the program last November, marking the second consecutive year.

#LotteChilsungBeverage announced on the 2nd that it is implementing a voluntary retirement program for the second consecutive year to ensure the company’s continued growth amid a rapidly changing business environment.

Eligibility for the voluntary retirement program is limited to employees born on or before December 31, 1981 (age 45), and those with 10 or more years of service. The program is open only to employees who voluntarily apply.

Severance pay will be paid on a sliding scale based on length of service. Employees with 10 to 15 years of service will receive 20 months’ worth of base pay, while those with 15 or more years of service will receive 24 months’ worth. Base pay includes base salary, bonuses, and allowances. In addition, the company will provide a re-employment support grant of 10 million won and up to 10 million won per employee for college tuition.

The terms of the voluntary retirement program remain the same as last year. Previously, on November 19 of that year, LotteChilsungBeverage implemented its first-ever voluntary retirement program, targeting employees born before 1980 who joined the company before 2015.

A LotteChilsungBeverage official stated, “This is intended to strengthen our core competitiveness through business streamlining and to transform into a future-oriented growth organization,” adding, “We plan to limit the program to employees who voluntarily apply.”