South Korean Company Offers $75,000 Baby Bonus Amid Population Crisis

A South Korean company is offering its employees a cool $75,000 each time they have a baby.'If Korea's birth rate remains low, the country will face extinction,' Lee Joong-keun, chairman of construction giant Booyoung Group, told workers early last month, according to reports.The country's fertility rate, already the lowest in the world, fell even further last year, with the average number of expected babies per South Korean woman now down to 0.72 from 0.

'The issue of low birthrates requires us to take the situation more seriously and contemplate on the causes and solutions from a different dimension than before,' President Yoon said in December, per South Korea's Yonhap News Agency.'Time is running short. I hope that every government agency approaches the issue of low birthrates with extraordinary determination,' he said.The South Korean embassy in the U.S. did not immediately respond to a written request for comment.

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