Billionaire offers $75k bonus to workers who have kids

Booyoung Group is handing out $75,000 each time an employee has a baby to help reverse the country’s declining birth rate.

Transcript

00:00 A South Korean construction company is giving out a $75,000 bonus to workers if they have a baby.

00:05 Booyang Group wants to help reverse the country's declining birth rate by giving out a money

00:09 incentive to its employees. In a staff meeting, the company's 84-year-old billionaire founder

00:13 blamed the country's low birth rate on financial burdens and difficulty balancing a family and work.

00:18 To combat this issue, Booyang Group decided to take a drastic measure to help. The company

00:23 hopes to potentially foot the bill for larger families' rent with the bonus. This new benefit

00:27 is no strings attached and will be available for both female and male employees. But Booyang isn't

00:32 stopping there. The company is reportedly also helping parents with college tuition for their

00:36 children, medical expenses for direct family members, and child allowances.