KB Insurance Expands Childbirth and Parenting Support, Leads Efforts to Overcome Low Birth Rate

New Childbirth Congratulatory Allowance Introduced
Significant Improvements to Leave Policies for Work-Life Balance

KB Insurance announced on August 5 that it is taking the lead in addressing the low birth rate issue by significantly expanding its support for childbirth and parenting.

According to Statistics Korea, the country’s total fertility rate in 2024 was 0.75, the lowest level in the world. The declining birth rate is now recognized not only as a simple population decrease but also as a structural problem that threatens the sustainability of society as a whole. In response to this awareness, KB Insurance has established practical policies covering the entire life cycle, including pregnancy, childbirth, and childcare.

Koo Bonwook, President of KB Insurance, participated in a relay campaign in June to raise awareness of population issues, delivering the message "Children are happy, youth nurture hope, and the elderly find fulfillment in Korea," while taking a commemorative photo. KB Insurance

KB Insurance has introduced a new childbirth congratulatory allowance system. Employees receive 10 million KRW for the birth of their first child, 15 million KRW for the second, and 20 million KRW for the third child or more. To ease the financial burden for employees struggling with infertility, the company also provides actual expense support for infertility treatment up to 10 million KRW per year. The cost of infertility procedures can range from several million to tens of millions of KRW, and repeated treatments are often necessary, making the burden significant.

The company has also greatly improved its leave policies to help employees with young children balance work and family life. Paternity leave has been extended from 10 days to 20 days, and maternity leave has been increased from 90 days to 120 days. Additionally, a new “elementary school child care leave” has been introduced, allowing employees to take one hour off per day when their child enters elementary school, supporting the child’s adjustment to their first school life.

Since 2018, KB Insurance has operated an on-site daycare center so that employees can leave their children safely until the end of the workday. The company also runs a child medical expense support fund, providing up to 100 million KRW for families whose children suffer from rare diseases or developmental disabilities.

These systems function as practical mechanisms that go beyond simple welfare, breaking the link between childbirth and career interruption. After the introduction of these new policies, one employee commented, “The company’s support was a real help in making the decision to have a child.”

In June, KB Insurance CEO Koo Bonwook participated in the “Population Issue Awareness Improvement Relay Campaign,” jointly organized by the Ministry of Health and Welfare and the Korea Human Resource Development Institute for Health and Welfare. He delivered the message, “Children are happy, youth nurture hope, and the elderly find fulfillment in Korea,” contributing to a shift in social awareness.

Last year, KB Insurance also conducted the “Ovarian Health Awareness” campaign to protect women’s health rights. This campaign is a social contribution initiative by KB Insurance that helps women take the lead in childbirth and family planning by identifying ovarian health status early. Not only customers but also CEO Koo and employees participated, raising awareness about women’s health autonomy and life planning.

A KB Insurance representative said, “Childbirth and parenting can no longer be left to individual choice alone?they are issues for society as a whole. We will continue to fulfill our responsibility as a company that raises children together with our employees and as a member of society that supports childbirth.”

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