Global farm equipment giant TYM is turning heads for its massive birth incentive program that pays out hundreds of millions of won.
According to News1 on the 23rd, TYM announced that its 'Birth Incentive System' introduced last year has paid out over 1 billion KRW (~$720,000) so far and is now firmly established.
Since last year, TYM has been handing out 10 million KRW for the first child, 30 million for the second, and 100 million for the third and beyond. Under the government's tax-free policy for corporate birth incentives, the full amount is exempt from taxes.
"Netizens are hyped about these massive 'baby bonuses' and the tax-free status, with some joking about Samsung's chairman joining in and others comparing perks across top-tier companies."
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