Park Jae-hyuk is a seasoned journalist who has provided comprehensive coverage of South Korea's corporate dynamics, economic policies, industry challenges and the global positioning of Korean companies. Based on the articles he has written since joining The Korea Times in 2016, his investigative approach has helped readers understand corporate governance, economic trends and business strategies shaping South Korea’s economy.
Lotte Group to mandate paternity leave
Lotte Group Chairman Shin Dong-bin, fourth from left, poses with Diversity Committee members at the Way of Women Forum in downtown Seoul, Wednesday. / Courtesy of Lotte Group
By Park Jae-hyuk
By Park Jae-hyuk
Lotte Group will be the first conglomerate to mandate paternity leave for all employees next year, guaranteeing 100 percent of their salary for a month, the company said Wednesday.
Male workers in Korea have been able to get paternity leave since 2007, but most of them have not applied, as the government only gives a maximum of 1 million won ($853) a month to them.
Lotte promised to make up the difference in ordinary pay so that male workers can care for their children without financial burden for at least a month.
The group will also extend maternity leave for female workers from a year to two years and guarantee their ordinary pay for at least a month.
The plan was announced during the Lotte Way of Women Forum, attended by Chairman Shin Dong-bin and about 500 female employees.
According to Statistics Korea, less than 5,000 men applied for paternity leave last year, while more than 80,000 women applied for maternity leave.