Maeil Dairies Significantly Expands Childbirth Promotion Policy
As low birth rates have emerged as a social issue, Maeil Dairies has attracted attention by significantly expanding its childbirth encouragement policies. Maeil Dairies is promoting childbirth by providing a total of 12 million KRW for giving birth to three children and greatly expanding support for infertility treatment.
According to the distribution industry on the 25th, Maeil Dairies has expanded its in-house welfare policies to significantly increase childbirth support funds and finalized a plan to provide unlimited support for infertility treatment procedures for infertile couples.
According to the distribution industry on the 25th, Maeil Dairies has expanded its in-house welfare policy by significantly increasing childbirth support funds and has finalized a plan to provide unlimited support for procedures for infertile couples. [Photo by Asia Economy DB]
Looking at Maeil Dairies' existing childbirth support policy, it has provided a total support worth about 5.5 million KRW, including a pregnancy congratulatory fund of 3.3 million KRW and six boxes of formula milk worth about 2 million KRW for one to two children. For three or more children, it provided a total of 7.5 million KRW, including a congratulatory fund of 5.3 million KRW and formula milk.
With the recent strengthening of childbirth support measures, support is now distinguished between one child and two children, and the pregnancy congratulatory fund has been significantly increased.
If a family has one child, they will receive a congratulatory fund of 4 million KRW and six boxes of formula milk, totaling 6 million KRW. For two children, the plan is to provide 6 million KRW in support plus six boxes of formula milk, totaling 8 million KRW. For three or more children, the support fund is increased to 10 million KRW, and including six boxes of formula milk, a total of 12 million KRW will be provided.
This applies equally to those who have changed jobs. Even if someone joined Maeil Dairies with their first child, if they have another child, they can receive the support fund of 8 million KRW for the second child. However, there may be restrictions on the length of service.
Maeil Dairies has taken steps to encourage childbirth by offering a total of 12 million KRW in support for families with three children and significantly expanding infertility support funds. [Photo by Yonhap News]
Regarding infertility treatment for couples, the previous limit of 1 million KRW per session and three sessions per year has been removed, and unlimited support will be provided. In addition to support measures, a 'Childbirth and Childcare Coordinator' system will be operated to provide one-stop support from pregnancy to return to work, including empathy, coaching, and career care.
A Maeil Dairies official explained, "We decided to expand in-house welfare policies to create an organizational culture that encourages childbirth and childcare," adding, "The related details were announced to the entire company on the 21st and have been implemented."
Record Low Total Fertility Rate of 0.70 in Q2
According to the 'June 2023 and 2nd Quarter Population Trends' recently announced by Statistics Korea, the number of births in the second quarter of this year was 56,087, a decrease of 6.8% (4,062) compared to the same period last year. [Photo by Asia Economy]
As forecasts suggest that this year's total fertility rate will be even lower than last year's record low of 0.78, and with Korea ranking overwhelmingly last among OECD countries in total fertility rate, there are ongoing calls for comprehensive population policies to increase the birth rate.
According to the 'Population Trends for June 2023 and Q2' recently announced by Statistics Korea, the number of births in the second quarter of this year was 56,087, a 6.8% (4,062) decrease compared to the same period last year.
In particular, the total fertility rate in the second quarter was 0.70, down 0.05 from the same period last year. The total fertility rate refers to the number of children a woman is expected to have during her lifetime.
The total fertility rate of 0.70 is the lowest ever recorded not only for the second quarter but for all quarters combined. With the second quarter total fertility rate hitting a record low, analyses suggest that this year's total fertility rate will also reach a record low.
In response, the government is considering raising the upper limit of parental leave benefits to the minimum wage level, but it remains uncertain whether this will effectively increase the birth rate.
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