South Korea’s biotech, pharmaceutical, and healthcare companies are ramping up efforts to address the country’s low birth rate. (Image courtesy of Yonhap)
SEOUL, March 10 (Korea Bizwire) — South Korea’s biotech, pharmaceutical, and healthcare companies are ramping up efforts to address the country’s low birth rate by introducing expanded family-friendly policies, including enhanced parental leave, financial incentives for childbirth, and workplace childcare support.
According to industry sources on Sunday, Kakao Healthcare has begun offering free continuous glucose monitors (CGMs) to employees diagnosed with gestational diabetes. This initiative follows the company’s launch of PASTA, an AI-powered mobile blood sugar management service, in 2024.
Meanwhile, Samsung Biologics has doubled the legally required parental leave period, allowing employees—regardless of gender—to take up to two years of childcare leave per child. The company also operates an in-house daycare center equipped with state-of-the-art facilities, covering all costs beyond government subsidies.
Financial Incentives for Childbirth
Several pharmaceutical companies have introduced substantial financial support for employees welcoming new children. Dong-A Pharmaceutical offers ₩200,000 ($140) for the first child, ₩500,000 ($345) for the second, and ₩1 million ($690) for the third and beyond.
Additionally, all employees receive a ₩5 million ($3,450) childbirth congratulatory bonus. The company also promotes work-life balance by implementing a four-hour early leave policy on the third Friday of every month, known as ‘Family Day’.
Handok has significantly increased its childbirth grants, raising first-child bonuses from ₩100,000 ($70) to ₩1 million ($690), second-child bonuses from ₩500,000 ($345) to ₩3 million ($2,070), and third-child bonuses from ₩1 million ($690) to ₩5 million ($3,450).
PharmaResearch has introduced one of the most generous policies, granting ₩10 million ($6,900) per child as a childbirth bonus. The company also provides a ‘Mother Box’ filled with essential baby care items.
Additionally, employees receive a monthly childcare stipend until their child turns eight, with payments of ₩100,000 ($70) for one child, ₩300,000 ($210) for two, and ₩500,000 ($345) for three or more.
Expanding Support for Infertility Treatment
PharmaResearch has also introduced unlimited infertility treatment support, offering ₩1 million ($690) per treatment session with no cap on the number of attempts.
Industry Perspectives
A biotech industry representative emphasized that competitive parental benefits have become a key factor in attracting top talent, predicting that corporate family support policies will continue to expand.
A pharmaceutical industry official echoed this sentiment, noting that enhanced parental leave policies are already leading to higher utilization rates. “Companies are actively working to support childbirth and parenting, recognizing their role in addressing the nation’s demographic challenges,” the official stated.
As South Korea’s birth rate continues to decline, corporate-led initiatives may play an increasing role in encouraging family growth while fostering a more balanced work-life culture.
Ashley Song (ashley@koreabizwire.com)
