[THE INVESTOR] Lotte Card has begun restructuring process, a local daily reported on June 14. The move comes while the authorities are turning up the heat on Lotte Group in an expanding corruption probe. Since June 10, the prosecutors’ office has been raiding Lotte Group offices and questioning officials over alleged embezzlement.
According to the news report, Lotte Card launched a voluntary retirement scheme on June 14 in a move unusual for a Lotte firm.
Employees above the age of 45 and those who have been passed over for a promotion five or more years.
By Choi He-suk (cheesuk@heraldcorp.com)