Seoul — South Korea's overall birth rate hit a record low of 0.72 in 2023, and with that figure projected to fall even further in 2024, some Korean businesses have started offering remarkably generous incentives to convince their workers to become parents.
The most generous parenthood incentive, however, is likely the one for workers at the construction and housing group Booyoung, which has been offering employees a $75,000 bonus for each new child they parent. Japanese government playing match-maker to boost birth ratesSo far, the company says 66 employees have taken advantage — at a cost to Booyoung of about $5 million.
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