[GLOBAL ECONOMIC TIMES]  KT, which has begun workforce restructuring, has dramatically increased the ‘desired retirement compensation’. Separately from severance pay, the maximum amount per individual was raised by 100 million won from 330 million won to 430 million won, and many people are flocking to voluntary retirement.

KT is simultaneously accepting voluntary retirement for transfers from two newly created telecommunication network operation and management subsidiaries, and as of the 24th, it is reported that 648 people have applied. If this continues, the number is expected to well exceed 1,000. Applications for special voluntary retirement will be accepted until November 4th.

While there are not many employees who want to transfer to a new company, the number of employees who apply for voluntary retirement appears to be much higher than expected. As the number of applicants for move-out was lower than expected, it was decided to extend the move-out application deadline until the 4th of next month.

According to KT's second labor union, only about 900 people applied for transfer in the first application as of the 24th. Compared to the target, it is about a quarter.

As the personnel backlog gets worse, each company is taking special measures. In a situation where it is difficult to artificially restructure the workforce, older employees are being encouraged to retire with unprecedented consolation payments. There are also departments where the youngest person is a deputy director in his 40s. In the case of KT, it is said that there are a lot of managers in their 50s.

As there are many highly experienced employees, the number of new hires is also decreasing. Even elderly car employees are in a situation where they have to ‘hang on as long as they can’ in a job where they can receive a salary amid increased life expectancy in the age of 100 years. In the end, companies came up with an unprecedented consolation prize card. The amount of consolation money is also increasing significantly.

SK Telecom also increased the 50 million won severance compensation it previously gave to those over 50 years old to a maximum of 300 million won. It was raised in an unprecedented way as there were not many people wishing to retire.

Meanwhile, according to Leaders Index, a business analysis institute, the aging phenomenon is becoming noticeable in IT companies that previously had a high proportion of employees in their 20s, with the number of employees in their 20s decreasing and the number of employees in their 50s or older increasing. The proportion of employees in their 20s fell from 34.2% in 2021 to 28.9% last year, while the proportion of employees over 50 years old increased from 16.6% to 19.8%.

Samsung Electronics also found that last year, the number of employees in their 40s or older exceeded the number of employees in their 20s for the first time. One in three employees is an executive-level employee.