Shinhan Bank Implements Voluntary Retirement Program for Employees Aged 49 and Above

Special Severance Pay of up to 36 Months for Employees Born Before 1972 with Over 15 Years of Service

[Asia Economy Reporter Ki Ha-young]Shinhan Bank announced on the 10th that it will accept applications for voluntary retirement until the 14th.

The eligible applicants for this voluntary retirement are all general employees from deputy branch manager level and above, general employees at grade 4 and below, RS (Retail Service) staff, indefinite contract personnel, and management support contract personnel who were born before 1972 and have more than 15 years of service. Voluntary retirees will receive special retirement pay of up to 36 months depending on their years of service and rank.

Additionally, Shinhan Bank is also promoting a plan to rehire voluntary retirees as contract personnel dedicated to management and financial consultation.

A Shinhan Bank official explained, "There have been ongoing requests to expand the scope of voluntary retirement for field employees, and we are conducting voluntary retirement to support employees’ stable 'second life.' We will provide various supports such as reemployment, tuition support for children, startup assistance, and health checkups to voluntary retirees."

Earlier in January, Shinhan Bank also conducted a voluntary retirement process, with about 220 employees leaving the company.

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