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.
Why HD Hyundai was chosen as venue for president's population policy meeting
President Yoon Suk Yeol plays with children at HD Hyundai's in-house day care center before a meeting of the Presidential Committee on Ageing Society and Population Policy at the company's headquarters in Seongnam, Gyeonggi Province, Wednesday. HD Hyundai Vice Chairman Chung Ki-sun, left, joined Yoon's meeting with children and teachers at the day care center. Joint Press Corps
By Park Jae-hyuk
Shipbuilder recognized for supporting working parents
Employees at HD Hyundai were taken by surprise on Wednesday when bodyguards of President Yoon Suk Yeol made an unannounced visit to the company's headquarters building in Seongnam, Gyeonggi Province. They were there to provide security as the Korean leader presided over a meeting of the Presidential Committee on Ageing Society and Population Policy.
Although Yoon and his predecessors have visited many companies to promote the growth of each industry, it was unusual for a private enterprise to become the venue of a presidential meeting for population policies.
The main reason behind Yoon’s surprise visit was HD Hyundai’s in-house day care center named Dream Boat.
Before the committee meeting, the president looked around Dream Boat with HD Hyundai Chairman Kwon Oh-gap, Vice Chairman Chung Ki-sun and Committee Vice Chairman Joo Hyung-hwan, to encourage the day care center’s teachers. Yoon also played with the children at the facility.
HD Hyundai Chairman Kwon Oh-gap, left, talks with Vice Chairman Chung Ki-sun before a meeting of the Presidential Committee on Ageing Society and Population Policy at the company's headquarters in Seongnam, Gyeonggi Province, Wednesday. Joint Press Corps
Since the shipbuilding giant opened Dream Boat in March 2023 inside its new headquarters building, the day care center has set an example for companies fighting the world’s lowest birth rate. The facility provides free care for employees' children aged 5 and under from 7 a.m. to 10 p.m., accommodating parents who opt for flexible work schedules. Additionally, it offers free organic meals four times a day.
The company provides financial support to employees whose children attend other daycare centers.
In addition, HD Hyundai vowed last December to double the employment of female employees by 2030 and allow them to take up to six months of leave before and after their children start going to elementary schools. For pregnant employees and those who give birth, the company also implemented additional holidays and cash bonuses.
“With more women joining the workforce and corporate culture prioritizing a work-life balance, we will make a company that more people want to work for and that allows more people to demonstrate their competence,” the HD Hyundai vice chairman said at that time.
As the father of two children, the vice chairman reportedly proposed the additional maternity leave for employees whose children start going to elementary schools, after his meeting with working mothers at the company.