South Korean underwear company Ssangbangwool on February 22 announced this business will provide an allowance of up to 100 million won ($75,000) for pregnant employees.
Accordingly, an employee can receive an allowance of 30 million won when giving birth to their first child, another 30 million won for the second child and 40 million won for the third child. In addition, the company is willing to spend up to 3 million won to Support employees who need in vitro fertilization.
“Improving the low birth rate is an important task that we need to do. The company will take responsibility and make every effort to help the country increase the birth rate,” said a representative of Ssangbangwool.
Earlier this month, Korean construction company Booyoung Group also announced will provide 100 million won for each employee’s birth. This is the highest level of monetary maternity compensation among businesses in Korea. Since January 2021, this company has granted 7 billion won to 70 employees
The Korean government also has policies to promote programs to encourage businesses to have children. Last week, President Yoon Suk-yeol directed tax incentives or other incentives other support measures to encourage these businesses.
Despite joint efforts by both the public and private sectors to promote high birth rates lao Movement in Korea still believes that spending money alone hardly makes a difference.
Some worry that the government’s tax incentives could lead to job polarization. do. “I am concerned that I am not eligible to participate in those programs,” said Lee, an employee at a small-scale company.
According to the Korean Taxation Administration, only 2-3% of workers domestic movement receives support finance from their company’s childbirth incentive programs.
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