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South Korea’s $75k Baby Bonus Spurs Hope

South Korean companies are offering substantial bonuses to employees who have children in an effort to combat the declining birth rate. While these financial incentives are a step in the right direction, experts emphasize the need for fundamental changes in the corporate culture to better support working women.

by Mark Eisenberg
Fri, Feb 16, 2024 8:28pm
in World
• 2 mins read
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South Korea's k Baby Bonus Spurs Hope | FinOracle

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South Korean Companies Offer Significant Bonuses to Employees Who Have Children

In an effort to combat the declining birth rate and demographic crisis plaguing South Korea's workforce, companies like Booyoung Group are taking matters into their own hands by offering substantial bonuses to employees who have children. Booyoung Group, for example, is providing a whopping $75,000 bonus per baby to incentivize its workforce to start families.

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