Chairman Who Gave '2.8 Billion Won' to Employee Who Had a Child Says, "Will They Have Children Just Because of Money?... Companies Must Participate" (Comprehensive)

Payment of 2.8 Billion Won in Childbirth Incentives Completed
"Companies Must Take the Lead as a Catalyst"
Proposal to Re-designate "UN Day" as a Public Holiday

"When determining the scale of the childbirth incentive, I asked the employees, 'How much would be practically helpful?' and everyone said, 'It seems like about 100 million won would make a real impact.' So, the amount was set at 100 million won. One employee even cried and said, 'Thanks to the chairman, I was able to have a child.'"

Lee Joong-geun, chairman of Booyoung Group, said this on the 5th during a press conference held immediately after the New Year's ceremony at the Booyoung Taepyeong Building in Jung-gu, Seoul, emphasizing the active role of companies in social issues such as childbirth encouragement, retirement age extension, and history education. On that day, Chairman Lee paid a total of 2.8 billion won, 100 million won per child, to 28 employees who had children last year. The cumulative amount paid reached 9.8 billion won.

Chairman Lee has continued to provide 100 million won childbirth incentives for two consecutive years, defining the declining birthrate issue not merely as an economic matter but as a challenge requiring societal-wide change, urging active participation from companies.

Lee Joong-geun, chairman of Booyoung Group, is holding a press conference after the New Year's ceremony at the Booyoung Taepyeong Building in Jung-gu, Seoul on the 5th. Photo by Choi Seoyoon

◆ "Companies Must Take the Lead" = Chairman Lee said, "Solving the birthrate problem is not something that can be done overnight," adding, "But if companies take the lead as a primer, the atmosphere changes." He continued, "It's not that people have children just because money is given, but it gives them the confidence that 'this amount makes having a child possible,'" emphasizing, "Childbirth incentives are not just a simple support measure but a signal that leads social change."

Regarding the actual effect, he said, "I have directly heard from employees that 'I decided to have a child because of this money,'" and "Many employees send thank-you letters or notes." Chairman Lee stated, "When companies take the lead, government policies change, and social awareness changes as well," calling this the "butterfly effect."

He stressed corporate social responsibility. He said, "If other companies move like ours, which introduced childbirth incentives, the social atmosphere will change," and "At first, everyone hesitated to take parental leave, but now it has become a natural system, and childbirth support should follow the same path." He added, "When companies take social roles, the government responds and systems change. Even if the birthrate does not rise noticeably immediately, these attempts accumulate and eventually bring change," repeatedly urging companies to participate.

Booyoung Group was the first domestic company to provide a 100 million won childbirth incentive in January last year, and since then, the government and the National Assembly have responded by deciding to exempt childbirth support payments given by companies to employees from taxation. According to the amended Income Tax Act implemented this year, this measure is retroactively applied to amounts paid after January 1 of last year. Booyoung Group employees are exceptionally included in the tax exemption for childbirth support payments made up to 2021.

When asked whether the childbirth incentive can be maintained continuously, Chairman Lee said, "It will be maintained until the birthrate stabilizes nationally," adding, "The goal is about 1.5 children per woman nationally, and once that level is reached, we will reconsider."

Lee Joong-geun, chairman of Booyoung Group, is awarding childbirth incentives to employees who gave birth last year and taking a commemorative photo at the '2025 Opening Ceremony' held on the 5th at the Booyoung Taepyeong Building Convention Hall in Jung-gu, Seoul. Photo by Choi Seo-yoon

◆ "Extending Retirement Age Is Natural... Those Capable Should Be Able to Work" = Serving concurrently as chairman of the Korea Senior Citizens Association, Chairman Lee showed deep interest not only in low birthrates but also in elderly issues. He said, "The elderly are not simply older people. They should be mature and leave something for their descendants," adding, "Therefore, issues of low birthrate, elderly, and history are ultimately concerns for the next generation."

Regarding raising the elderly age threshold, he said, "Currently, the number of births is about 300,000 annually, but the elderly increase by 600,000 to 700,000 each year. If this continues, the burden of support will be unmanageable," and argued, "It is necessary to adjust the elderly age to 75. Doing so will reduce the national burden and also give the elderly the perception that 'I am not yet an elder.'"

He also said extending the retirement age is necessary. When asked about the possibility of extending retirement age related to raising the elderly age threshold, he said that getting older does not automatically mean one cannot work, and "If someone is capable, they should be able to work. Companies will continue to utilize such people."

Lee Joong-geun, chairman of Booyoung Group, is performing the national ceremony at the New Year's ceremony held at the Booyoung Taepyeong Building in Jung-gu, Seoul on the 5th. Photo by Choi Seo-yoon

◆ Proposal to Re-designate UN Day as a Public Holiday: "A History We Must Remember" = Chairman Lee also proposed designating United Nations Day (UN Day) as a public holiday.

He said, "I was born in 1940. I was 10 years old during the Korean War and witnessed the horrors of war firsthand," adding, "But nowadays, the younger generation thinks of the war as 'a thing of the past,' which is not true. The reason the Republic of Korea exists today is because the UN forces helped."

Chairman Lee emphasized the need for the government to designate the day as a public holiday, saying, "The role of the UN forces was significant in enabling the Republic of Korea to exist today, but this fact is gradually being forgotten," and "It is not just about creating a commemorative day, but about remembering the help we received then and passing it on to future generations."

United Nations Day commemorates the founding of the UN on October 24, 1945. In Korea, it was designated as a public holiday from 1950 to 1975. However, in 1976, when North Korea joined UN-affiliated organizations, it was removed from the list of public holidays in protest. There are two UN participation heritage sites in the world, both located in Korea.

A former Air Force officer, Chairman Lee has actively participated in supporting national veterans and preserving history, including continuous donations to the 'Air Force Sky Love Scholarship Foundation' since 2018. In 2023, to commemorate the 70th anniversary of the Korean War armistice, he donated 10 billion won to the Air Force Sky Love Scholarship Foundation. He also supported 2.8 billion won for improving sports facilities at Air Force remote units.

In 2015, he funded the construction of a 2.7-meter-high monument honoring the 23 UN participating countries at the Peace Plaza of the Yongsan War Memorial. He has also authored historical books such as '1129 Days of the Korean War,' which chronicles the period from the outbreak of the Korean War to the armistice, as well as '1775 Days of Liberation,' '12768 Days of Dawn,' and '135 Years 48701 Days of Daybreak,' practicing the correct transmission of history to future generations.