LOTTE BIOLOGICS Reveals Triple Digit Hiring Plan for 2024, "Ensuring Predictability in the Hiring Market."

■ Four hiring sessions annually

■ Experienced hires (Jan’, April, July, Aug’) and new hires (March, June, Sept’, Dec’) 

■ New hire recruitment for March: document submission through LOTTE Group’s recruitment homepage until the 17^th 

LOTTE BIOLOGICS (CEO Richard Lee) announced on March 4^th that, in order to secure biotechnology experts and expand job opportunities for the youth, it plans to open recruitment for experienced and new employees once every quarter, totaling four times a year in 2024. The recruitment of experienced employees will take place in January, April, July, and October, while the recruitment of new employees will be conducted in March, June, September, and December. Depending on the requirements, the scale of recruitment and the schedule of announcements is subject to change.

The company aims to reduce the recruitment lead time and provide multiple employment opportunities to job seekers by recruiting a three-digit number of experienced and new employees in 2024. Furthermore, by ensuring periodic, recurring recruitment opportunities, it is expected to provide sufficient preparation time and convenience to potential applicants.

Especially notable this year is that the recruitment of new employees will not be for a unified job category but will be conducted for specific job roles to cultivate professionals with the competencies required for each position. The recruitment in March will target a total of five job functions: Overseas Business Development, Quality Control, IT, Engineering, and General Corporate Affairs. Bachelor's degree holders, including those expected to graduate in August 2024, can apply as long as they have no disqualifications for overseas travel. Document submission will be conducted from the 4th to the 17th on the Lotte Group recruitment homepage (https://recruit.lotte.co.kr/). The selection process includes document screening, an online aptitude test (LIST/L-TAB), interviews, and a medical examination for employment, with the final successful candidates joining the company in May 2024.

LOTTE BIOLOGICS has been consistently demonstrating efforts to address the skills shortage in the biotech industry and create job opportunities for the youth. Since August last year, it has been operating the 'Open Innovation Internship' program, which allows anyone to freely apply for any position regardless of gender, nationality, age, educational background, or career, without any restrictions. Interns not only experience the job, but also gain firsthand experience of LOTTE BIOLOGICS' business units, and outstanding interns may receive bonus points during future recruitment.

In November last year, LOTTE BIOLOGICS conducted its first-ever open recruitment for university graduates since its establishment, contributing to continuous job creation. According to the company, despite the recruitment of new employees taking place around the end of the regular semester in December last year, there was a high level of interest and applications, leading to a high competition rate. In response, the company plans to continue its efforts in job creation by ensuring regular recruitment, thereby providing applicants with sufficient preparation time and convenience.

Additionally, for the first time since the foundation of LOTTE Group, a stock option system has been introduced for all employees across LOTTE BIOLOGICS’ affiliates. This initiative aims to provide appropriate compensation and enhance loyalty among key talents currently employed, while also intending to enhance corporate value in the long term. By expanding the scope of the stock option system to include all employees, it aims to contribute to their growth as valuable talents in the domestic biotech skills market in the future.

The stock option system will be granted to about 80% of all employees annually, based on internal evaluation criteria. In line with the early stage of the business, it will be implemented over the next five years, with the recipients for each year being determined and granted through resolutions of the Board of Directors and the General Shareholders' Meeting.

A representative from LOTTE BIOLOGICS stated, "With the announcement of the 2024 recruitment plan, we aim to enhance the transparency and predictability of recruitment information and actively support the government's job creation policy. Furthermore, through the open database for the Open Innovation Internship, we are looking for talents to join across job functions regardless of gender, nationality, age, educational background, or career history. We actively encourage participation from a wide range of applicants, including women with career breaks, middle-aged and older individuals, as well as non-Koreans."

Meanwhile, LOTTE BIOLOGICS recently won the Grand Prize (Chairman of the National Assembly's Environment and Labor Committee Award) at the '6th Korea Job Awards'. The company received high praise for its contributions to job creation through customized training programs for employees and the establishment of detailed recruitment plans. Additionally, its efforts in fostering professional talents and recruitment through MOUs with the Ministry of Employment and Labor, Korea Polytechnic University, and others have been recognized as exemplary contributions to industry-academic cooperation.