Hyundai Department Store Expands Childbirth and Childcare Support
Childbirth Congratulatory Money Raised to 10 Million Won for Third Child
Hyundai Department Store announced on the 7th that it will significantly expand related welfare benefits to overcome low birth rates and create a child-friendly corporate culture. The company plans to lead the way in establishing a corporate culture where work and family can coexist by implementing the industry's highest level of welfare benefits.
Hyundai Department Store will greatly increase the childbirth congratulatory money from the previous 200,000 KRW for the first child, 300,000 KRW for the second child, and 1,000,000 KRW for the third and subsequent children to 3,000,000 KRW, 5,000,000 KRW, and 10,000,000 KRW respectively.
Pregnant employees will also receive congratulatory gifts such as folic acid, multivitamins, and mother massage oil. In addition, the support for infertility treatment costs has been expanded for employees facing difficulties with pregnancy. Previously, employees with more than 7 years of service were provided 1,000,000 KRW per infertility treatment session up to 3 times, but now support is provided without restrictions on length of service or number of treatments. A paid leave system has also been established to allow employees to accompany their pregnant spouses for medical checkups.
Furthermore, the housekeeping helper support system, which was previously available only to female employees with children under 8 years old, has been expanded to include male employees, and the number of support sessions has increased from once a month to twice a month.
Hyundai Department Store was the first in the department store industry to introduce a 2-hour paid reduced working hours system throughout the pregnancy period in 2017, and also provides 100,000 KRW per month in transportation expenses for pregnant employees. When male employees take parental leave, their full ordinary wages are compensated for the first 3 months, and the 'Dad's Home' system allows employees raising children aged 4 to 8 to work reduced hours of 2 hours per day for up to one month.
Min Wang-il, Vice President of Hyundai Department Store's Management Support Headquarters, said, "We believe that for overcoming the low birth rate, which has become a social issue, it is most important for companies to support their employees in childbirth and childcare," and added, "We will continue to establish practical support systems so that employees can feel secure during pregnancy, childbirth, and childcare periods and achieve a balance between work and family."
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