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South Korean company offers staff $75,000 for each baby they have

South Korean company offers staff $75,000 for each baby they have
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Markets in everything, Korean opening bid edition

“We will continue to do what we can as a company to solve the low birth issue,” Lee Joong-keun, the chairman of Booyoung Group, a Seoul-based construction…

Gov t considers giving tax benefits to Booyoung, employees for baby bonuses

After Booyoung Group s recent announcement to pay a combined 7 billion won ($5.25 million) in cash for 70 babies born to its employees after 2021, the government is considering offering tax benefits both to the company and the employees over the childbirth bonus.

Free public bus service for Run Ta Ek residents starts tomorrow

Free public bus service for Run Ta Ek residents starts tomorrow
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South Korean construction firm pays staff $75,000 each time they have a baby

A construction firm in South Korea is offering 100 million Korean won ($75,000) for every child born to its employees, in a bid to address the nation's declining birth rates. About the incentive: Booyoung Group has pledged its employees a total commitment of 7 billion won ($5.25 million) for 70 babies born since 2021, reported the Chosun Daily. Why it matters: The initiative is a response to South Korea’s alarmingly low fertility rates, with projections of a population decline not witnessed since the 1970s.

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