SC Jeil Bank Expands Spousal Maternity Leave to 100 Days... First Among Commercial Banks

Same Application for Adoption
Medical Expenses for Menopausal Women Also Supported

SC First Bank is the first among commercial banks to extend paid leave for spouse childbirth and adoption to 100 business days.

On the 4th, SC First Bank announced that it has expanded paid leave for spouse childbirth and adoption to a maximum of 100 business days starting from the 1st of this month to promote fair participation in childcare and improve the welfare of family members. This move follows the introduction of a 'global welfare system' by its parent company, Standard Chartered (SC) Group, aimed at fostering an inclusive culture and supporting employees' work-life balance.

Among domestic large corporations including commercial banks, SC First Bank is the first to grant paid leave for spouse childbirth up to 100 business days. According to the current 'Act on Equal Employment and Support for Work-Family Balance,' companies are required to provide 10 business days of paid leave for spouse childbirth. SC First Bank has expanded this to a maximum of 100 business days and will grant the same amount of leave for child adoption.

The revised paid leave for spouse childbirth and adoption applies to births and adoptions from the 1st of this month. The leave can be used within one year from the date of birth/adoption and may be taken in one split. Even if both spouses are employees, the female employee can use prenatal and postnatal leave, and the male employee can use spouse childbirth leave for the same child. However, considering fairness in implementing the new system, employees who gave birth or adopted in July and August before the implementation date will be granted up to 50 business days.

Welfare for menopausal women will also be introduced. Menopause is recognized as a medical condition requiring support, and medical expenses for treatment of menopausal symptoms (such as hot flashes and mood swings) and hormone replacement therapy to alleviate these symptoms will be supported.

Lee Hyung-mi, Head of the HR Group (Executive Director) at SC First Bank, said, "As a member of a global financial group, SC First Bank is continuously striving to strengthen its position as a workplace where people want to work and to introduce advanced welfare systems that enhance diversity and inclusion." She added, "We expect this system to help employees who are raising children or planning to do so in establishing family plans and achieving financial stability."

This content was produced with the assistance of AI translation services.