Korea Federation of Banks Signs Agreement with National Police Agency to Support Childcare for Police Families

Private Childcare Services for 1,000 Police Families
Vouchers Worth 500 Million Won to Be Provided

The Korea Federation of Banks and the National Police Agency announced on December 23 that they had signed a business agreement at the Eunhaengyeonhap Building in Jung-gu, Seoul to support childcare for the families of police officers.

This agreement was established to help address the national issue of low birth rates by filling childcare gaps and alleviating the burden of care for police officers, who frequently work in shifts and at night. As part of its banking industry social responsibility project, the Korea Federation of Banks will provide private childcare vouchers worth a total of 500 million won to 1,000 police families nationwide who are in urgent need of childcare assistance.

The recipients will be selected by the National Police Agency in December, taking into account factors such as the number and age of children and work schedules. Each selected family will receive a voucher worth 500,000 won and, starting in January next year, will be able to freely use the necessary childcare services according to their work schedules and their children's ages.

Eunhaengyeonhap Building, Jung-gu, Seoul. Photo by Kang Jinhyung

Yoo Jaeseong, Acting Commissioner General of the National Police Agency, said, "Due to the unique nature of police work, including night and shift work, many fellow officers face challenges in raising their children. I hope this agreement will help ease their childcare burden, even if only a little," adding, "We expect that police officers will now be able to focus more stably on their primary duty of protecting public safety."

Cho Yongbyoung, Chairman of the Korea Federation of Banks, stated, "It is meaningful for the banking sector to contribute to easing the childcare burden of police officers who are dedicated to public safety. We will continue to pay close attention to solving care-related issues in our society and overcoming the low birth rate in the future."

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