 |
Photo = Yonhap news |
[Alpha Biz= Reporter Kim Sangjin] E-Mart, South Korea's leading retailer, has announced its second voluntary retirement program of 2024. As of December 8, the company began accepting applications from employees who joined before January 1, 2015.
Eligible employees will receive a generous compensation package, including:
Special Severance Pay: Equivalent to 20–40 months of basic salary.
Living Assistance: 15–25 million KRW depending on years of service.
Career Transition Support: 10–30 million KRW based on rank.
Shopping Discounts: Up to 7 million KRW annually for 10 years post-retirement.
An E-Mart representative stated, "We aim to provide fair compensation and the best support for employees choosing voluntary retirement."
The move comes amid ongoing challenges for E-Mart, which reported its first-ever operating loss of 46.9 billion KRW in 2022. Earlier this year, in March, the company initiated its first-ever company-wide voluntary retirement program in its 31-year history.
However, E-Mart has shown signs of recovery in 2024. During the first three quarters, the company reported cumulative sales of 12.71 trillion KRW, a 1.8% increase from the previous year, and operating profits of 195 billion KRW, up 31.1%.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
