Jeil Bank Implements Voluntary Retirement in Second Half...Significantly Expands Eligible Applicants

[Asia Economy Reporter Kiho Sung] SC First Bank is conducting voluntary retirement (special retirement) this year.

According to the banking sector on the 7th, the target for this voluntary retirement has been significantly expanded compared to last year, and employees born in the 1970s are now eligible to apply. Eligible employees are those aged 42 to 50 or older (born before 1979) depending on their position, with at least 10 years of service. Applications will be accepted from the 8th to the 15th, and voluntary retirement will take effect on the 29th.

Retirement benefits will be paid based on position, age, and length of service, ranging from 36 to 60 months of voluntary retirement pay (based on monthly fixed salary). The maximum limit is 600 million KRW. Tuition fees up to 20 million KRW per child for up to two children, totaling a maximum of 40 million KRW, will be provided, and startup support funds ranging from 20 million to 60 million KRW will be offered depending on age.

At the end of last year, dozens of employees applied for voluntary retirement at SC First Bank. At that time, employees aged 55 or older (born before 1965) with at least 10 years of service at all levels below deputy general manager were eligible, and benefits included up to 38 months' salary, a 20 million KRW employment encouragement bonus, and tuition fees up to 20 million KRW for up to two children.

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