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Lotte's South Korea e-commerce arm offers early retirement

SEOUL -- Lotte On, the online retail arm of South Korea's Lotte conglomerate, is seeking volunteers to take early retirement packages after making little headway in its competition with more established rivals like Coupang.

Workers who have been with the company for at least three years are eligible for the buyouts, which amount to six months of salary or paid leave. The scale of the program, applications for which are open through Friday, has not been disclosed.