Hyundai Motor Company said on Tuesday it would adopt a peak salary system to all of its affiliates from next year.
The company forecasted that when the system is applied for all of its 41 affiliates including 150,000 employees, it would create more than 1,000 jobs.
Hyundai also plans to extend their retirement age to 60 for all of its subsidiaries. A peak salary system extends retirement age for senior employees in return for gradually reducing their salary in the years leading up to retirement.
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