Infertility Treatment Cost 10 Million Won
Spouse Maternity Leave 20 Days, etc.
KB Kookmin Bank's labor and management have agreed to expand welfare and personnel systems related to childbirth and childcare to overcome low birth rates. They have strengthened childbirth incentives and infertility treatment support, and prepared measures to improve childcare systems.
First, the childbirth incentive is up to 20 million KRW per child. The previous payments of 800,000 KRW for the first child, 1 million KRW for the second, and 3 million KRW for the third and subsequent children have been significantly increased to 10 million KRW, 15 million KRW, and 20 million KRW respectively. Support for infertility treatment for the employee or spouse has doubled from the current maximum of 5 million KRW to up to 10 million KRW.
The spouse's paternity leave period will also be extended. Previously, leave could be taken for 10 days within 90 days from the date of childbirth, but this has been expanded to 20 days. The conditions for reduced working hours during childcare have been relaxed from having children aged 9 or younger or in up to 3rd grade of elementary school to having children aged 12 or younger or in up to 6th grade of elementary school.
Labor and management completed an agreement on these improvement measures on the 26th. The increase in childbirth incentives and strengthened infertility medical expense support will be implemented immediately, while the expansion of spouse paternity leave and activation of reduced working hours during childcare will be applied from the second half of this year.
A KB Kookmin Bank official said, “Both labor and management actively agreed on the necessity of overcoming low birth rates for a sustainable society and reached an agreement to strengthen childbirth and childcare support. We will continue to do our best to practice coexistence and corporate social responsibility to contribute to solving various social issues such as low birth rates, jeonse fraud, and voice phishing.”
On the 26th, at the '2024 2nd Quarter Labor-Management Council Signing Ceremony' held in the conference room of the new KB Kookmin Bank building in Yeouido, Seoul, Lee Jae-geun, President of KB Kookmin Bank (left in the photo), and Kim Jeong, Chairman of the KB Kookmin Bank Branch Union, are taking a commemorative photo. Photo by KB Kookmin Bank
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