HMM Invites Voluntary Retirement Applications from Employees Aged 50 and Over

Implemented Temporarily This Year
For Enhancing Efficiency

HMM, the largest shipping company in Korea, is implementing an early retirement program for employees aged 50 and older.

HMM announced on the 4th that from the previous day until the 10th, it will operate a "Restart Support Program" for employees aged 50 and older. This is the first voluntary retirement program in about three years since December 2022.

Cargo is piled up on a container ship anchored at Busan Port. Photo by Kang Jinhyung aymsdream@

HMM plans to provide applicants with severance payments based on years of service, as well as re-employment support services. An HMM representative said, "We are not implementing this with a fixed headcount target; we are doing it to enhance organizational efficiency," adding, "This is a temporary measure, and we have no plans to make it an annual routine."

HMM also explained that this round of voluntary retirement applications is unrelated to current issues such as the recent privatization process or the relocation to Busan.

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