Neither 8 hours of duty, nor tension of performance; Company is giving bonus of Rs 62 lakh! Employees will just have to do this work…

Ronit Kawale
Ronit Kawale - Senior Editor
4 Min Read


Korean companies are giving 75000 dollars for the birth of a child.
South Asian country is struggling with declining fertility rate.
Parents of up to three children can earn lakhs of rupees.

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You must have heard that the company gives bonus to its employees on Holi-Diwali and performance basis, but have you ever seen a company giving bonus for the birth of a child? Actually, this news coming from South Korea is absolutely true, where the decreasing population (Low Birth Rate) has become a headache for the government. Many big companies in South Korea have started running Birth Program, under which employees are being encouraged to have children. According to the information, many companies are giving rewards of up to $75,000 to their employees for having children.

It is being claimed in many reports that the birth rate in South Korea has reached its lowest level, due to which the demographic challenges may increase further. Releasing a forecast recently, the Statistical Office had said that the potential birth rate is expected to fall to 0.72 this year and by 2025 it may fall to 0.65. The fertility rate in South Korea is the lowest in the world and now private companies are also coming forward to deal with this situation.

$75,000 bonus for having a child
Moving in this direction, some South Korean companies are offering a bonus of up to $75,000 or Rs 62,16,435 to their employees for having children. Two companies, Booyoung Group and Ssangbangwool, have implemented the new berth program in their offices this month. The company has said that employees will be given up to $75,000 to help improve the birth rate.

Every child will get bonus amount
Quoting a report published in Business Insider, it is being said that underwear manufacturing company Ssangbangwool issued a statement saying that it will give employees $ 22,400 (about Rs 18 lakh) for their first child, $ 22,400 (about Rs 18 lakh) for the second child. It will give $22,400 (about Rs 18 lakh) for the first child and $30,000 (about Rs 25 lakh) for the third child. The company said that Korea's aging population is a matter of concern for us and to improve it, we will have to focus on increasing the fertility rate.

Government is also helping companies
Like China and Japan, South Korea is also facing the consequences of declining birth rate. In South Korea, the population of retired people is increasing rapidly, while the population of youth is decreasing. To maintain population balance, South Korea must maintain the birth rate at 2.1. The government is also contributing extensively in this initiative of the companies.

On February 13, South Korean President Yoon Suk Yeol had ordered tax incentives and subsidies for companies that are encouraging their employees to have children. In the capital Seoul, municipal authorities are giving $750 every month to parents until the child turns 1 year old.

Tags: Business news, Child, Child policy

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