[2024 Women’s Forum] Gounsesang Cosmetic, 80% Female Workforce with Reduced Working Hours Throughout Pregnancy

Gender Equality Index Award | Asia Economy Grand Prize Special Award

At the 9th Asia Gender Equality Index Awards, Gounsesang Cosmetic, which received the 'Asia Economy Representative Award (Special Award),' is a leading company that has improved productivity based on work-family balance systems for its employees.

With women making up about 80% of its total workforce, Gounsesang Cosmetic implements various systems to promote female employment. It guarantees parental leave for up to two years, offers reduced working hours throughout pregnancy, supports infertility treatment costs and provides leave on the day of procedures, grants leave for children's school entrance, and operates a 7.5-hour workday. When employees return from parental leave, the company supports them through the 'Supporting Working Moms' program to help them adapt well to the workplace.

Lee Ju-ho, CEO of Gounsaesang Cosmetic, is taking a photo after receiving a special award at the '9th Asia Gender Equality Index Awards Ceremony' hosted by Asia Economy on the 30th at Lotte Hotel in Jung-gu, Seoul. Photo by Kang Jin-hyung

It is common for both male and female employees to use parental leave, and at Gounsesang Cosmetic, the retention rate of employees, including leaders, who return from parental leave and remain employed for more than six months is 100%. The average duration of parental leave for women is 331 days (as of 2023), and for men, it is 215 days. Men can also use systems such as mandatory 10-day paternity leave, leave for accompanying prenatal checkups, and reduced working hours during the last two months of their spouse’s pregnancy.

As a result of implementing these systems, Gounsesang Cosmetic recorded an average total fertility rate of 2.7 in 2022, which is three times higher than South Korea’s total fertility rate of 0.78 in the same year. At the same time, sales surged from the 30 billion KRW range in 2017 to the 200 billion KRW range in 2023. Currently, the company has expanded into 13 countries in North America and Southeast Asia, including the United States, Japan, and Vietnam, growing into a leading global 'K-Beauty company.'

Lee Ju-ho, CEO of Gounsesang Cosmetic, said, "It was possible because of the Gounsesang Cosmetic community spirit that grows based on individual expertise and solidarity," adding, "We share the philosophy with our employees that if the company protects its members, the members will protect the company."

Meanwhile, Asia Economy awarded the special prize for the first time this year to companies that have taken a leading and proactive role in establishing systems for work-family balance for employees, excluding the top 100 listed companies by sales (including 36 financial companies).