Daejeon City, KB, and Hankyungyeop Join Hands to Support Small Business Owners with Childbirth and Childcare

KB Donates 1 Billion Won to Support Health Checkups, Infertility Treatment, and Substitute Worker Salaries

(From left) Lee Sangyun, Head of Sustainable Growth Division at Korea Economic Association, Jang Hojong, Deputy Mayor for Economy and Science of Daejeon City, Lee Seungjong, Vice President of KB Financial Group / Daejeon City

Daejeon City announced on the 26th that it has signed a business agreement with KB Financial Group and the Korea Employers Federation at the Daejeon Startup Hub to support childbirth and childcare for small business owners.

According to the agreement, KB Financial Group will donate 1 billion KRW to Daejeon City, the city will promote projects related to low birth rates, and the Korea Employers Federation will provide mentoring for small business owners.

The initiative is divided into six projects across four areas. In the meeting and marriage support area, the city will offer meeting programs and provide 200,000 KRW for health checkups.

In the childbirth support area, small business owners who are infertile couples will receive up to 400,000 KRW for infertility treatment, and mothers who are small business owners will be given a one-time health management allowance of 500,000 KRW for postpartum care.

For parental leave, small business owners who hire substitute workers due to pregnancy or childbirth will receive 300,000 KRW per month for up to six months as wage support.

In the childcare support area, small business owners whose income exceeds 150% of the median income?previously excluded from support?will now receive a 50% subsidy for their share of childcare service costs for up to six months.

The city plans to implement these projects through the Daejeon Job and Economy Promotion Agency after December 16.

From January to August this year, Daejeon recorded 4,347 accumulated marriages, a 21.3% increase compared to the previous year, ranking first nationwide. The number of births per 1,000 people was 4.884, ranking second in the country.

Jang Hojong, Deputy Mayor for Economic and Scientific Affairs of Daejeon City, said, "We hope this initiative will empower Daejeon’s small business owners, who are struggling amid the economic crisis, to balance work and family and lead stable lives."