"'Work-Family Balance' Corporate Issue... Creating an Environment Where Parents, Companies, and Society Raise Children Together"

Hankyung Association, 10th K-ESG Alliance Meeting
Invitation of Vice Chairman Joo Hyung-hwan for Public-Private Low Birthrate Countermeasure Discussion

In an era where demographic structures are changing and labor shortages are increasing, creating a work environment that allows for work-family balance has been diagnosed as a matter crucial to corporate survival. The government also plans to strive to create a management environment where parents, companies, and society collectively raise children.

Kim Yoon, Chairman of the K-ESG Alliance and Chairman of Samyang Holdings, is giving a greeting at the '10th K-ESG Alliance' held on the 25th at the FKI Tower Conference Center in Yeouido, Yeongdeungpo-gu, Seoul.
From the left, Kim Chang-beom, Vice Chairman of the Korea Economic Association; Kim Yoon, Chairman; Joo Hyung-hwan, Vice Chairman of the Low Fertility and Aging Society Committee. Provided by the Korea Economic Association

The Korea Economic Association announced on the 25th that it held the 10th K-ESG Alliance under the theme "Sustainable Korea - Measures to Reverse the Low Birthrate Trend," inviting Joo Hyung-hwan, Vice Chairman of the Low Birthrate and Aging Society Committee.

Vice Chairman Joo gave a special lecture on the theme "Sustainable Korea - Measures to Reverse the Low Birthrate Trend."

He stated, "Work-family balance, improvement of long working hour practices, and gender equality are the three pillars necessary for sustainable corporate growth," and added, "For 'EFG management,' which emphasizes 'F (Family)' in ESG (Environment, Social, Governance) management, companies should actively make efforts."

He continued, "We have allocated a concentrated budget to create a work-family balance environment at the level of advanced countries," and added, "We will strive to create an environment where parents, companies, and society raise children together."

Kim Yoon, Chairman of the K-ESG Alliance (Chairman of Samyang Holdings), said, "Low birthrate and aging are economic issues as well as corporate issues," and noted, "There have been many changes, such as a significant increase in the number of users of parental leave compared to 10 years ago."

As of 2022, the total number of parental leave users in Korea was 199,976, about twice the 94,980 recorded 10 years earlier in 2012. In particular, the number of male parental leave users increased 14.7 times during this period, from 3,691 to 54,240.

Chairman Kim said, "The population issue is a major hurdle that must be overcome to ensure corporate sustainability and national competitiveness," and added, "We will join forces to overcome the low birthrate problem."