THE WHAT? Amorepacific Group has introduced a voluntary retirement programme, marking only the second time such a measure has been implemented since the company’s founding.
THE DETAILS Announced internally on 5 December, the programme is positioned as a response to shifting domestic and global business conditions. It follows a previous voluntary retirement initiative launched in December 2020.
Eligibility extends to employees with 15 years or more of service in support or offline sales functions, as well as career hires aged 45 and above. The programme applies across multiple group entities, including Amorepacific Holdings, Amorepacific, Innisfree, Etude, Amoreprofessional, Osulloc and Espoir.
Compensation varies by tenure. Employees with 20 years or more of service will receive up to 42 months of base salary, while those with 15–20 years of service, and eligible career hires, will receive two months of base salary per year of service. Additional post-retirement benefits include health check-ups for employees and their spouses for up to two years.
THE WHY? The move signals a broader effort by South Korea’s largest beauty group to recalibrate its cost structure and organisational efficiency as it adapts to slower growth, changing consumer behaviour and structural shifts across global beauty markets.
Source: Business Korea
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