Booyoung Group, a South Korean construction company, is doing something special to help with South Korea’s low birth rates. Lee Joong-keun, chairman, Booyoung Group, shared a plan to give money directly to employees when they have a baby.
The company is giving its employees $75,000 for each new baby born in an endeavour to fix the country’s declining population problem.
With South Korea facing the world’s lowest birth rate, 0.78 in 2022, and expecting it to drop even lower to 0.65 in 2025, Booyoung Group is stepping up to help.
The firm is promising its staff a generous sum as support so that they can embrace parenthood. The move, it is hoped, will turn around the declining number of births and help the country grow. It’s a thoughtful gesture that can make a big difference.
The programme offers a hefty reward of 100 million Korean won (about $75,000 or Rs. 62,54,142) per baby.
Since 2021, the company has given a total of seven billion Korean won (which equals $5.25 million or Rs. 43,77,899) to 70 new parents.
This plan will cover both male and female employees. Besides the monetary rewards, employees with three kids will get a special offer: they can choose between 300 million Korean won ($225,000 or Rs. 1,86,68,970) in cash or a place to rent.
2 Comments
I am from North East am Naga can i also help and get some money ??
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