This company is giving its employees 70 thousand euros to encourage them to have children
2024-02-26 19:50:43
TiranaPost
A Korean construction company is paying its employees almost 70,000 euros each time they give birth to a baby, hoping it will help solve the country's low birth rate.
The company has already paid a total amount of 4.8 million euros to employees who have given birth to children since 2021.
"If the current state of low birth rates continues, we will face a national existential crisis as the workforce declines, " said Joong-keun Lee, founder of Booyoung Group.
South Korea has the lowest fertility rate in the world at about 0.7 births per woman, according to the Korean Peninsula Population Institute for the Future.
Experts say the reasons include changing views of the family, a highly competitive society, the high cost of raising children and men's low involvement in childcare.
