Hana Bank Implements Special Early Retirement for Pre-Retirement Employees... Pays 24 Months' Salary

On the 3rd, the headquarters of Hana Bank in Jung-gu, Seoul, displayed the brand name "Hana Bank" without "KEB." Hana Bank announced that from this day forward, it will change its brand name from KEB Hana Bank to "Hana Bank" and start anew as the New Hana Bank preparing for the next 10 years. Photo by Hyunmin Kim kimhyun81@

[Asia Economy Reporter Kim Min-young] Hana Bank is implementing a 'pre-retirement special retirement' program.

According to the financial sector on the 21st, Hana Bank is accepting special retirement applications until the 22nd from regular employees who have worked for more than 15 years and are aged 40 or older (born before July 31, 1980). Special retirement applications are also temporarily allowed for employees on military leave.

Those selected for special retirement will receive an average wage for 24 months.

For those born before 1970, up to 20 million KRW will be additionally paid for medical expenses and children's tuition fees.

Additionally, except for employees on military leave, special retirees will receive 20 million KRW as reemployment and career transition support funds.

Special retirement is also being conducted for employees subject to the wage peak system. Applications for the wage peak special retirement were accepted in the second half of 2020 for regular employees born in the second half of 1964.

They are supported with approximately 25 months' average wage, children's tuition fees, and health checkups for two years after retirement.

Last year, Hana Bank retired 92 employees through the pre-retirement special retirement and 277 employees through the wage peak special retirement.

A Hana Bank official explained, "In response to changes in the financial environment, we have been conducting this annually since the 2015 merger of Korea Exchange Bank and Hana Bank based on labor-management agreement to optimize workforce structure, provide early career transition opportunities to the parties involved, and enhance organizational vitality through generational change."

This content was produced with the assistance of AI translation services.