Program launched last year; expanded to 16 affiliates

95% of recipients open to having more children

The family of Kim Shin-young, an Ourhome manager (right), who gave birth to twins in March and received 20 million won in childbirth support funds. [Hanwha Machinery & Services Holdings]
The family of Kim Shin-young, an Ourhome manager (right), who gave birth to twins in March and received 20 million won in childbirth support funds. [Hanwha Machinery & Services Holdings]

Hanwha Machinery & Services Holdings (Hanwha M&S) said Thursday that more than 500 employee households across its Tech and Life Solutions divisions have received its "Yuadonghang Jiwongeum" childbirth support fund.

As of this month, 513 employees have received the benefit — 374 from the Life division and 139 from the Tech division. That figure is nearly double the 280 recorded in January, when the program marked its first anniversary, representing a roughly twofold increase in eight months. Recipients have used the funds for purposes including replacing family vehicles, relocating their homes and covering postpartum care costs.

The fund provides 10 million won ($14,600) after tax to any employee household that has a child, with no limit on the number of times it can be claimed. The program launched in January last year under the initiative of Kim Dong-sun, president and head of future strategy at Hanwha M&S, initially covering eight affiliates including Hanwha Galleria and Hanwha Hotel. It has since expanded to 16 affiliates, including Hanwha Vision and Ourhome. By affiliate, the top recipients were Ourhome (174), Hanwha Hotel (91), Hanwha Semitech (49), Hanwha Vision (46) and Hanwha Galleria (38).

In a survey of all 513 recipients, 99 percent said the fund had been a practical help in balancing work and family life. When asked whether the support had positively influenced their consideration of having additional children, 95 percent said it had.

"Supporting 500 employee households through childbirth and child-rearing has made us keenly aware of how important it is to balance work and family," a Hanwha M&S official said. "We will continue to walk alongside our employees so that they and the company can grow together."


keg@heraldcorp.com