Ssangbangwool Group Offers 100 Million Won for Third Child... Expansion of Low Birthrate Support in Business Circles

The Ssangbangwool Group announced on the 22nd that it will provide childbirth incentives worth tens of millions of won per child to its employees in order to overcome the low birthrate issue.

On the same day, Ssangbangwool Group held a childbirth encouragement campaign launch ceremony at its headquarters in Yongsan-gu, Seoul, and plans to provide childbirth incentives of 30 million won for the first child, 30 million won for the second child, and 40 million won for the third child to employees with more than five years of service who give birth after January 1 of this year.

If an employee receives childbirth incentives for all three children, they can receive a total of 100 million won in incentives.

For couples experiencing infertility, the group will support in vitro fertilization (IVF) treatment costs. In addition to government support, they plan to cover expenses such as ultrasound, injections, and medication up to an annual limit of 3 million won.

Ssangbangwool Group also released a video of the "Low Birthrate Overcoming Multi-Child Dance Challenge" organized by its affiliate IOK Company.

Actors and singers affiliated with IOK Company are also expected to participate in this challenge. A Ssangbangwool Group official said, "Overcoming the low birthrate is a very important task that our society must solve," adding, "The company will devote all its capabilities to establishing substantial self-help measures with a sense of social responsibility."

Earlier, Booyoung Group decided to provide 100 million won in cash per child to 70 employees' children born after 2021 to encourage childbirth.

Additionally, Lotte Group has decided to support rental fees so that employees across all affiliates who give birth to a third child can use a Carnival van free of charge for two years starting this year. Lotte has been making various efforts to overcome the low birthrate and support childcare, including introducing an automatic maternity leave system for women in 2012 and implementing mandatory paternity leave for men in 2017.