Lotte Engineering & Construction Implements Voluntary Retirement Program... Up to 30 Months' Base Salary as Severance

Lotte Engineering & Construction is implementing a voluntary retirement program, primarily targeting long-term employees and those under the wage peak system.

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On April 13, Lotte Engineering & Construction announced its plan for voluntary retirement on the company's internal bulletin board. Applicants will receive a retirement severance package of up to 30 months of base salary, depending on their years of service, as well as a special consolation payment of 30 million won. In addition, a scholarship of 10 million won per child will be provided for children who are currently enrolled in university or lower levels of education.

Lotte Engineering & Construction also stated that it plans to conduct new hiring in parallel with the voluntary retirement program. Previously, the company hired 39 new employees in the first quarter of this year.

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