First Child 5 Million Won · Second Child 7.5 Million Won · Third Child 10 Million Won
Spouse Maternity Leave Extended from 10 to 20 Days, etc.
LS Cable & System will significantly expand its childbirth and childcare-related policies starting next month. As the first large company to provide congratulatory money for the birth of grandchildren, it will also implement bold welfare expansion policies such as extending the existing one-year parental leave period to two years.
LS Cable & System employees are enjoying quality time with their children. [Photo by LS Cable & System]
On the 31st, LS Cable & System announced plans to increase congratulatory money for childbirth and extend parental leave periods.
First, the congratulatory money for childbirth will be increased. 5 million KRW for the first child, 7.5 million KRW for the second child, 10 million KRW from the third child onward, and 2.5 million KRW for grandchildren. Notably, LS Cable & System is the first large company to provide congratulatory money for the birth of grandchildren.
The reduced working hours system during pregnancy will also be changed. Currently, according to the law, working hours can be reduced by 2 hours only within 12 weeks of pregnancy or after 36 weeks. Going forward, employees will be able to use the 2-hour reduced working hours throughout the entire pregnancy period.
Spousal paternity leave will be expanded from the current 10 days of paid leave to 20 days. Both male and female employees will automatically receive parental leave following childbirth leave without a separate approval process.
The parental leave period will also be extended. Previously, it was allowed to be used twice in splits over one year for children under 8 years old or in the second grade of elementary school or younger. From now on, it can be used up to four times in splits over a maximum of two years.
Byun Sang-gu, chairman of the LS Cable & System labor union, said, "Various family-friendly policies were introduced in this year's collective bargaining, reflecting the management's philosophy and employees' demands," adding, "We will continue to work together to address low birth rates and to create policies that support work-family balance."
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