Wednesday, May 29, 2024
World News

A South Korean company is paying employees to have more children : NPR

A company in South Korea is offering financial incentives to help boost the country’s lagging birth rate.



SCOTT SIMON, HOST:

South Korea’s declining birth rate has caused some companies there to offer incentives to employees to have larger families. One of the country’s biggest conglomerates, the Lotte Group, says it will offer families with three or more children a seven- to nine-seat family vehicle free. But wait, there’s more.

The construction company Booyoung Group is offering employees a $75,000 bonus for each new child. The company says 66 employees have taken advantage of the bonus so far. And Booyoung’s chair says he also wants to help families who have a third child with housing, ensuring, quote, “no tax burden and no maintenance responsibilities.”

Those benefits sound generous, but companies who really want to encourage employees to have more children might offer the help of professional engineers to tackle the ultimate challenge of parenting – assembling a baby’s crib.

Copyright © 2024 NPR. All rights reserved. Visit our website terms of use and permissions pages at www.npr.org for further information.

NPR transcripts are created on a rush deadline by an NPR contractor. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.

Leave a Reply

Your email address will not be published. Required fields are marked *