Hanwha's 'Childcare Companion Support Fund' Surpasses 500 Families... 95% of Employees "Considering More Children"

10 Million KRW Provided Per Birth with No Limit for Employees
Support Also Extended to Parents of Twins and Overseas Assignees
99% of Beneficiaries Say "It Helped Achieve Work-Life Balance"

Hanwha Machinery & Service Holdings (Hanwha M&S) announced on September 4 that the number of employees benefiting from its 'Childcare Companion Support Fund' program, aimed at supporting work-life balance and improving childcare environments for staff, has surpassed 500 families.

As of this month, a total of 513 families have received the Childcare Companion Support Fund (374 from Life Solutions, 139 from Tech Solutions), representing an almost twofold increase in just eight months compared to the 280 families recorded in January this year, which marked the first anniversary of the program's launch.

Kim Sinyoung, a manager at Ourhome (right), who gave birth to twins in March and received 20 million won in 'Childcare Companion Support Fund,' with her family. Provided by Hanwha M&S.

The Childcare Companion Support Fund provides 10 million KRW (after tax) to the households of employees who give birth, regardless of the number of childbirths. The initiative was first introduced last January under the leadership of Kim Dong-sun, President of Future Strategy at Hanwha M&S, starting with eight affiliates including Hanwha Galleria and Hanwha Hotels & Resorts. Since then, it has been expanded to 16 affiliates including Hanwha Vision and Ourhome. By affiliate, the beneficiaries are: 174 from Ourhome, 91 from Hanwha Hotels & Resorts, 49 from Hanwha Semitec, 46 from Hanwha Vision, and 38 from Hanwha Galleria.

There are various examples of how the support fund has been used. Kim Shinyoung, a manager at Ourhome, who gave birth to twins in March of this year, plans to use the 20 million KRW support fund toward purchasing a new home. Geum Jisoo, a staff member of Hanwha Vision, secured a new place to live after giving birth, and Ryu Junghyun, a manager at Hanwha Galleria, purchased a premium stroller. Kim Taeyun, a manager who welcomed his second child, replaced the family car with a seven-seater vehicle for family trips.

Employee satisfaction has appeared high as well. In a survey of the 513 recipients of the fund, 99% responded that the support fund had provided meaningful help in achieving work-life balance. Notably, 95% said that the fund positively influenced their consideration of having additional children. This figure marks an increase of around 10 percentage points compared to July of last year.

The scope of the Childcare Companion Support Fund has also been extended to employees working overseas. This March, Kim Geonjo, head of the Ourhome U.S. branch, became a father and received the support fund in Los Angeles. He said, "Healthcare and postpartum care costs in the United States are more than twice as high as in Korea, which was a significant burden, but the company's support greatly helped the recovery of both the mother and child."

A Hanwha M&S representative said, "By supporting the childbirth and childcare of 500 families, we have once again realized the importance of work-life balance," adding, "We will continue various initiatives that enable both employees and the company to grow together."

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