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E-mart24 Launches Voluntary Retirement Program for Managers and Above

Policy1 min read

Emart24, a Korean convenience store chain, is offering a voluntary early retirement program called "Career Renewal" to staff at assistant manager level and above. Employees can choose between a career redesign package and a path to opening their own Emart24 store.

What happened

Emart24 announced on the 28th that it will run a voluntary early retirement program, called "Career Renewal," for employees at the rank of assistant manager (Band 3) and above. Staff who want to apply can do so until the 4th of next month. The company says the program lets employees plan their own future careers while the company keeps its competitiveness in a fast-changing retail market.

Key numbers and facts

  • Eligible staff: assistant manager (Band 3) and above
  • Career redesign option: legal severance pay plus up to 24 months of salary as special retirement pay, and up to 20 million won in job transition support depending on rank
  • Store startup option: legal severance pay plus up to 12 months of special comfort pay, along with store operating support and startup costs
  • Living support for both options: up to 15 million won
  • Application deadline: the 4th of next month

Background

Early retirement programs let employees leave a company before the usual retirement age, often with extra money. Last year at the end of the year, Emart24 also offered a similar program, but only for staff at deputy general manager level and above. This new round reaches a lower rank.

Why it matters

This program shows how large retailers are trying to change their staff to meet new market needs. For workers, it offers a choice: take a new job path or start a business with company help. Because the program is voluntary, employees who do not apply keep their current roles.

What to watch

  • How many assistant managers and above apply before the deadline
  • Whether the company shares the final number of employees who leave
  • Whether other convenience store or retail companies start similar programs

Glossary

Emart24
A Korean convenience store chain that runs small stores across the country.
Career Renewal
The name of Emart24's voluntary early retirement program, which offers two choices.
Band 3
Emart24's internal job rank. It is the assistant manager level.

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