KEPCO conducting early retirement program

SEOUL, Jan. 14 (Yonhap) -- Korea Electric Power Corp. (KEPCO), South Korea's
state-run power company, said Thursday it was carrying out an early retirement
program for employees who have worked for over 20 years.

"We have been receiving applications for early retirement from Monday, and the
application will be available until Friday as part of efforts to streamline
business operations and hire new employees," said an official at KEPCO.
At the end of 2008, KEPCO said it plans to phase out 2,420 jobs, or 11.1 percent
of its 21,743 workers, by 2012. Under the plan, the company cut 273 jobs last
year.
KEPCO's plan came after the government announced in late 2008 that 69 state-run
corporations and institutions will slash a total of 19,000 workers, or 13 percent
of their combined payroll, over the next three to four years.
ksnam@yna.co.kr
(END)

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