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.