South Korea faces a historic demographic challenge. Last year, the country recorded the worst fertility rate in its history: 0.72. If the latter is maintained, South Korea’s population threatens to be halved within 80 years. This is why the state has already spent more than 280,000 billion won, or 196 million euros. Some local companies are also working against this problem by pushing their employees to have children.
This is the case of the South Korean construction group Booyoung, whose CEO Lee Joong-keun highlights the inability of the authorities to counter this problem. He therefore opted for a more direct solution: an exceptional bonus of 100 million won, or nearly 70,000 eurosto all its employees who will celebrate the birth of a newborn, report The echoes.
During a ceremony held on Monday February 5 where he distributed these first bonuses, Lee Joong-keun justified his initiative. “If we follow this current rate of decline in the birth rate, the country could find itself threatened with extinction within 20 years“, he fears, “the company must adopt these unprecedented incentive measures to alleviate the financial burdens of our employees’ families and their difficulties in reconciling professional and private life,” adds the 84-year-old businessman, who calls on the South Korean government to increase efforts.
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2024-02-08 18:08:30
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