First Voluntary Retirement Since Establishment... Kyobo Bookstore "150 Applicants"

It has been confirmed that approximately 150 employees expressed their intention to retire early in the voluntary retirement program implemented by Kyobo Bookstore for the first time since its establishment.

According to Kyobo Bookstore, about 13% of the total employees (1,167 people) and around 30% of the voluntary retirement candidates (500 people), approximately 150 individuals, applied for voluntary retirement. Previously, Kyobo Bookstore accepted applications for voluntary retirement from employees aged 40 or older with more than 10 years of service.

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A Kyobo Bookstore official stated, "Although the review process remains until the final decision, we plan to respect the applicants' positions as much as possible."

Voluntary retirees will receive severance pay and job transition support funds (10 million KRW) according to their years of service, along with a differentiated basic salary. The basic salary amount is 20 months' worth for those with 10 to 15 years of service, and 24 months' worth for those with more than 15 years of service. For employees with children, up to 20 million KRW in educational expenses will be supported.

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