South Korea's Booyoung Group pays employees up to $75k per baby to combat low birth rate, allocating $5.25M to 70 children since 2021.

A South Korean construction company, the Booyoung Group, is offering its employees up to $75,000 each time they have a baby as an effort to combat the country's low birth rate. The company has already made cash payments totaling $5.25 million to staff who have had 70 children since 2021. The initiative aims to alleviate the financial burden of raising children by directly supporting employees through cash payments.

February 11, 2024
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