Hanwha M&S has surpassed 500 families benefiting from its 'Childcare Support Fund,' which provides 10 million won for each child born to employees. Since the program's introduction in January 2025, the number of participating companies has increased, leading to a rapid rise in beneficiaries.
As of this month, Hanwha M&S reported that a total of 513 families have received the childcare support. The Life Solutions division accounts for 374 families, while the Tech Solutions division has 139 families. Since the program's first anniversary in January, the number of beneficiaries has increased by 233 in just eight months, up from 280 families.
The Childcare Support Fund offers 10 million won after tax for each child born, with no limit on the number of births. This means families with twins can receive 20 million won. The initiative began under the leadership of Kim Dong-seon, President of Hanwha M&S, in January 2025, starting with eight subsidiaries, including Hanwha Galleria and Hanwha Hotels & Resorts, and has now expanded to 16 companies, including Hanwha Vision and Ourhome.
Among the subsidiaries, Ourhome has the highest number of beneficiaries at 174, followed by Hanwha Hotels & Resorts with 91, Hanwha Semitec with 49, Hanwha Vision with 46, and Hanwha Galleria with 38.
Employees are using the funds for housing, childcare products, and vehicle purchases. Kim Shin-young, a manager at Ourhome who received 20 million won after giving birth to twins in March, plans to use the funds to help with moving to a new home to accommodate her growing family. Similarly, Kim Ji-soo, an employee at Hanwha Vision who gave birth in April, recently moved into a new house using the support funds.
Ryu Jeong-hyun, an employee at Hanwha Galleria, purchased a stroller with the childcare support, while Kim Tae-yoon, also from Hanwha Galleria, upgraded to a seven-seater vehicle after welcoming a second child.
Satisfaction with the program is high among employees. A survey of the 513 beneficiaries revealed that 99% believe the childcare support has significantly aided work-life balance. Additionally, the percentage of respondents who felt the support positively influenced their consideration of having more children rose to 95%, an increase of about 10 percentage points since July of last year.
The program also extends to expatriates. Kim Geon-jo, the head of Ourhome's U.S. branch, received the childcare support after welcoming a child in March while in Los Angeles. This marks the first instance of an overseas employee receiving the support.
Kim stated, "In the U.S., medical and postpartum care costs are more than twice as high as in Korea, making the financial burden significant. Thanks to the company's support, both the mother and child were able to recover quickly and healthily. Beyond financial assistance, it felt empowering to know that the company and colleagues were cheering us on."
A representative from Hanwha M&S remarked, "As we support the childbirth and childcare of 500 families, we are reminded of the importance of work-life balance. We will continue to provide various support to help employees and the company grow together."
* This article has been translated by AI.
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