Number of Employees Giving Birth Increases from 23 to 28 per Year

Proposal to Reinstate ‘UN Day’ as a Public Holiday

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Lee Joongkeun, Chairman of Booyoung Group, emphasized the role of companies in addressing the declining birth rate and announced that this year as well, employees who have a child will receive 100 million KRW per child. He also proposed reinstating ‘UN Day’ as a public holiday to honor the countries that participated in the Korean War.

On the 5th, at the New Year’s kick-off ceremony held at Booyoung Taepyeong Building in Jung-gu, Seoul, Chairman Lee awarded a total of 2.8 billion KRW in childbirth incentives to employees. Including this year’s payment, a total of 9.8 billion KRW has been provided as childbirth incentives.

Chairman Lee said, "I hope we become the catalyst that leads to a butterfly effect where companies voluntarily participate, like the National Debt Repayment Movement and the Gold Collection Campaign."

The childbirth incentive system was initiated by Chairman Lee’s strong determination to solve the national issue of declining birth rates, going beyond in-house welfare. He judged that the economic burden of raising children and the difficulty of balancing work and family life are major reasons for low birth rates, and decided to provide direct financial support.

In fact, after the implementation of the childbirth incentive, the number of employees giving birth increased. From 2021 to 2023, an average of 23 employees gave birth each year, but this year the number rose to 28. A Booyoung Group official said, “Financial support had a positive impact on employees’ decisions to have children.”

Since Booyoung Group first provided childbirth incentives in January last year, the government and National Assembly have also decided to make all childbirth support funds provided by companies to employees tax-exempt. According to the amended Income Tax Act implemented this year, this measure is retroactively applied to payments made since January 1 of last year. Booyoung Group employees are also exempt from taxes on childbirth support funds paid up to 2021.

Lee Joonggeun, chairman of Booyoung Group, is holding a press conference after the New Year's ceremony at the Booyoung Taepyeong Building in Jung-gu, Seoul on the 5th. Photo by Yonhap News

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On this day, Chairman Lee expressed gratitude to the countries that participated in the Korean War for the future of Korea and proposed the reinstatement of ‘UN Day’ as a public holiday. He said, “The Korean War was the first and, to this day, the only war in which UN forces from 60 countries (16 combat support, 6 medical support, 38 material support) participated after the founding of the UN. We are gradually forgetting the sacrifices of the UN forces. As a nation known for its courtesy, we must remember their sacrifice and pass on the spirit of the times to future generations by reinstating UN Day as a public holiday.”

UN Day is October 24, 1945, marking the founding of the United Nations. In Korea, it was designated as a public holiday from 1950 to 1975. However, in 1976, when North Korea joined a UN-affiliated organization, it was removed as a public holiday in protest. Currently, there are two UN Forces Heritage sites in the world, both located in Korea.

As an Air Force veteran, Chairman Lee has actively participated in supporting national patriots and preserving history, including consistently donating to the ‘Air Force Sky Love Scholarship Foundation’ since 2018. In 2023, he donated 10 billion KRW to the Air Force Sky Love Scholarship Foundation to commemorate the 70th anniversary of the Korean War armistice. He also provided 2.8 billion KRW to improve sports facilities at remote Air Force units.

In 2015, he funded the construction of monuments for the 23 UN countries that participated in the Korean War at the Peace Plaza of the War Memorial of Korea in Yongsan, each standing 2.7 meters tall. He has also authored history books such as ‘1129 Days of the Korean War’, ‘1775 Days of Liberation’, ‘12768 Days of Dawn’, and ‘135 Years 48701 Days of Daybreak’, striving to accurately convey history to future generations.