As of 2020, Korea’s fertility rate was 0.84, which is the only one among 37 OECD member countries that is less than one. Is it to overcome this reality? The Ministry of Employment and Labor announced the reform of the parental leave support system in accordance with the ‘4th Basic Plan for Low Fertility and Aging,’ announced at the end of last year.
The main contents of the reorganized parental leave support system are ▲Increase in the income replacement rate for parental leave benefits ▲New ‘3+3 parental leave system’ in which both parents are paid more when taking parental leave ▲Childcare leave for employers who allow parental leave The creation of ‘Payment Allowance’, etc. This applies to the period of parental leave after January 1, 2022.
First, an increase in the replacement rate of parental leave pay refers to raising the parental leave benefit level applied for 4 to 12 months from 50% of the ordinary wage (up to KRW 1.2 million per month) to 80% of the ordinary wage (up to KRW 1.5 million per month). Accordingly, if only one parent takes parental leave, all parents will receive parental leave benefits equal to 80% of the normal wage from 1 month to 12 months.
The newly established ‘3+3 parental leave system’ provides for up to 100% of each parent’s parental leave benefit for the first 3 months when parents use parental leave simultaneously or sequentially for children under 12 months of age. say to pay Both parents can receive parental leave pay up to 2 million won per month in the first month, 2.5 million won per month in the second month, and 3 million won per month in the third month.
Similarly, the new parental leave subsidy system is a system that provides 300,000 won per month to employers of companies subject to priority support that allow parental leave for one year. In particular, if parental leave for children under 12 months of age is allowed for more than three months, the employer can receive a subsidy of 2 million won per month for the first three months. Companies subject to priority support for parental leave refer to companies whose number of full-time workers is less than or equal to a certain standard in accordance with Article 12 (1) of the Employment Insurance Act. less than 200 people
Copyright © Travel Newspaper Unauthorized reproduction and redistribution prohibited