Hyundai E&C to extend retirement age to 60, adopt peak wage system
Jun 16, 2014
Hyundai Engineering and Construction, South Korea’s No. 1 builder, said Monday it will extend the retirement age of its workers to 60 and adopt a peak wage system a year before it becomes mandatory for large businesses to take such steps.“The move marks a first in the construction sector and was reached through detailed consultation between labor and management,” a corporate official said. At present, the retirement age for the company, like most other firms, is 58.The National Assembly passed a