Lee Hwanjoo, CEO, Shares Challenge Certification Photo with Deposit Products Department Staff Who Planned 'KB Child Love Savings Account'
Promoting a Family-Friendly Corporate Culture with Childbirth Incentives and Conditional Reemployment Retirement System
▲Lee Hwan-joo, President of KB Kookmin Bank (third from the left), is taking a commemorative photo after participating in the challenge with the employees of the Deposit Products Department who planned the 'KB I Sarang Savings Account.' Photo by KB Kookmin Bank.
KB Kookmin Bank has joined the 'Financial Sector Relay Challenge to Overcome the Low Birthrate Crisis' to create a better environment for raising children.
The 'Low Birthrate Crisis Overcoming Challenge' is a campaign aimed at spreading a family-friendly corporate culture and fostering a positive social atmosphere regarding childbirth and childcare. This campaign began last December with seven financial associations, including the Korea Federation of Banks, and continues with the participation of leaders in the financial sector.
Lee Hwan-joo, CEO of KB Kookmin Bank, participated in the challenge along with employees from the Deposit Products Department who planned the 'KB Child Love Savings Account' to support the campaign's purpose of overcoming the low birthrate. The 'KB Child Love Savings Account' was designed from the perspective of working mothers raising children and was selected in January as an excellent case of win-win and cooperative new financial products by the Financial Supervisory Service.
KB Kookmin Bank operates various employee welfare programs to lead the way in balancing work and family life and addressing the low birthrate issue. These include ▲support for childbirth incentives ▲enhanced support for infertility medical expenses ▲expanded spouse maternity leave ▲promotion of reduced working hours during childcare periods ▲a conditional reemployment retirement system for childcare, providing flexible working environments and welfare tailored to each employee's situation.
Regarding the 'childbirth incentive,' up to 20 million KRW is provided per child: 10 million KRW for the first child, 15 million KRW for the second, and 20 million KRW for the third and subsequent children. Support of 10 million KRW is given for infertility treatment for the employee or spouse, and spouse maternity leave has been extended from 10 to 20 days. The eligibility for reduced working hours during childcare has been relaxed from parents with children under 9 years old to those with children under 12, alleviating employees' childcare burdens.
Additionally, since the end of 2023, KB Kookmin Bank has been the first in the financial sector to introduce and operate a 'conditional reemployment retirement system.' This system guarantees a total childcare period of five years by offering reemployment opportunities three years after retirement to employees who have used the full two-year childcare leave. Upon reemployment, employees retain their previous rank without undergoing a separate hiring process, thereby resolving career discontinuity.
Lee Hwan-joo, CEO of KB Kookmin Bank, stated, "KB Kookmin Bank will continue to operate various welfare programs to establish a corporate culture where work and family life can coexist." He added, "We will do our best to contribute to solving the social issue of overcoming the low birthrate through mutual growth and fulfilling corporate social responsibility."
Meanwhile, KB Financial Group maintains continuous interest in the low birthrate issue among small business owners and is strengthening cooperation with major local governments nationwide. It has signed business agreements with key local governments such as Seoul, Busan, Gwangju, and Daejeon to support improvements in the care environment for small business owners, fulfilling its social responsibilities.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
