S. Korean Chipmakers Abolish Retirement Age to Prevent Talent Leaks | Be Korea-savvy

S. Korean Chipmakers Abolish Retirement Age to Prevent Talent Leaks


A cleanroom in a Samsung Electronics semiconductor production facility in Suwon, Gyeonggi Province. (image: Samsung Electronics)

A cleanroom in a Samsung Electronics semiconductor production facility in Suwon, Gyeonggi Province. (image: Samsung Electronics)

SEOUL, Jan. 25 (Korea Bizwire)South Korea’s semiconductor industry is establishing a system to allow high-caliber engineers to continue to work even after retirement age as part of efforts to cope with talent leaks.

SK hynix Inc. recently created a “master” position, which is the highest career level among field workers at semiconductor production sites.

This system aims to select gurus among professional field workers, enabling them to pass on their accumulated knowledge and know-how even after retirement.

In addition, the memory chip maker has selected a group of distinguished engineers from a pool of high-caliber technical engineers with excellent technological capabilities starting from 2018 and designated the employees who can accomplish outstanding achievements even after retirement age as honored engineers.

They are responsible for addressing urgent tasks during the development process and leading mid- and long-term projects, while serving as advisors to pass on their capabilities to junior workers.

Meanwhile, Samsung Electronics Co. also introduced a “senior track” program in May last year to allow highly skilled employees to work even after their retirement.

Among soon-to-be-retired employees, those who have achieved outstanding performance, or those who have excellent qualifications and software expertise are selected for the program.

According to the National Intelligence Service, the value of damages caused by leaks of state-of-the-art technology stood at 22 trillion won over the past five years. Among the culprits, 53 percent were retired employees.

The number of leakage cases stood at 83, including 69 cases in industries where Korea boasts technological proficiency, including semiconductor, electronics, display, automobile, shipbuilding and IT.

J. S. Shin (js_shin@koreabizwire.com)

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