[Photo] Korean Air introduces voluntary retirement program amid financial deficit

Struggling with a growing deficit, the South Korean airline Korean Air announced a voluntary retirement program on Dec. 11. Employees aged 50 and up who have worked for Korean Air for 15 years or longer are eligible to apply. The program offers a retirement allowance, two months' pay, and education stipends for retirees’ children for up to four years after their retirement. Pilots, flight attendants, engineers, researchers, and employees at overseas branches are not eligible to apply. Korean Air has cited sluggish global demand, the US-China trade dispute, and the South Korea-Japan conflict as factors in its poor financial performance.