Woori Financial Group Pledges 10 Billion Won Annually to Combat South Korea’s Looming Low Birth Rate Crisis
Woori Financial Group Introduces Unprecedented Support for Employees with Children
Woori Financial Group has announced a groundbreaking ‘family and childcare-friendly system’ to provide comprehensive support to its employees with children. This innovative system aims to alleviate the financial and psychological burdens associated with childcare, ultimately contributing to a healthier work-life balance.
Key Features of the System
Unified support standards and amounts for all group companies
Expanded infertility treatment support, including up to 5 million won per year in treatment costs and six days of special vacation
Increased birth congratulatory money to 5 million won per child
Introduction of a new ‘preschool child care allowance’ of 250,000 won per month, totaling 9 million won per child for three years
Extended childcare leave period of up to two years
Operation of a ‘Group Joint Daycare Center’ to provide a safe and reliable childcare environment
Benefits for Employees
Up to 19 million won per child in support before entering elementary school
Reduced burden of childcare during work hours through access to company childcare facilities
Active participation in government policies to overcome the low birth rate crisis
Implementation and Expansion
The new system will be implemented starting from October 1, with all group companies expected to be on board by the end of the year
* Woori Financial Group plans to continuously expand family- and child-rearing-friendly systems to support employees in leading happy work lives
A Step Towards a Family-Friendly Corporate Culture
Woori Financial Group’s ’family and childcare-friendly system’ marks a significant step towards creating a healthy, family-friendly corporate culture. By providing comprehensive support to its employees with children, the company aims to promote a better work-life balance and contribute to the well-being of its employees and their families.