2024-02-09 17:26:15
10 million won congratulatory gift when giving birth
500,000 won per month until age 7
Kumho Petrochemical and HD Hyundai also received support
IMM, a domestic PEF management company, announced on the 8th that it had introduced the industry’s first birth incentive. The photo is not related to the article. [사진 = 연합뉴스]
IMM, a domestic private equity fund (PEF) management company, became the first in the industry to introduce a birth incentive starting this year. Recently, Booyoung Group introduced an unprecedented birth incentive policy that pays 100 million won in cash to employees’ children born following 2021, and similar movements are appearing in the PEF industry. There are growing voices hoping that the impact of Booyoung’s birth incentives will spread throughout the company.
According to the PEF industry on the 8th, IMM Holdings, IMM PE, and IMM Credit & Solutions decided to pay a lump sum of 10 million won as congratulatory money to employees who gave birth starting this year, and 500,000 won per month (6 million won per year) to children of preschool age. did. This childbirth incentive policy began this year, but was retroactively applied to employees who gave birth at the end of last year. In terms of the total amount, if you give birth to a child, you can receive up to regarding 46 million won (10 million won + 36 million won until the child is 6 years old).
An official from the fund industry said, “There is a perception that private equity fund employees make a lot of money, but most of it comes from performance bonuses.” He added, “In these days of merger and acquisition recession, there are almost no performance bonuses, so some employees may not have enough money, so subsidies are not available.” “It may be helpful in raising children,” he explained.
Booyoung Headquarters [사진 = 부영그룹]
On the 5th, Chairman Lee Jung-geun of Booyoung Group personally paid 100 million won in childbirth incentives to families giving birth at the inaugural ceremony. Starting from this, interest is growing in the subsidies that companies are paying to encourage childbirth. In the mid- to long-term, it is predicted that the number of companies introducing or increasing maternity subsidies may increase.
Kumho Petrochemical is considered one of the companies in the business world that gives the most generous congratulatory money for babies. For each birth, 5 million won is provided for the first child, 10 million won for the second child, 15 million won for the third child, and 20 million won for the fourth child. Starting this year, we are also providing support for infertility treatment costs.
HD Hyundai pays 5 million won in congratulatory money for pregnancy and childbirth, and Hyundai Motor Company also increased the birth congratulatory money from 1 million won to 3 million won for the first child, 4 million won for the second child, and 5 million won for the third child through a wage and collective agreement in September last year. . Samsung C&T, POSCO, and Hanmi Global also provide subsidies to their employees when giving birth.
As companies’ childbirth incentives spread, there are voices calling for a solution to the tax issue. When a company pays a maternity incentive directly to an employee, the company can treat it as an expense, but the worker may be subject to a high income tax rate. Accordingly, Booyoung reduced the tax burden on employees by donating 100 million won (tax rate of 10%) to the employees’ children. However, if you do this, the company’s tax burden increases as expenses cannot be processed. Accordingly, Booyoung proposed a ‘birth incentive donation exemption system’ (tax and expense deductions for both individuals and corporations) to encourage companies to voluntarily support childbirth incentives.
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