Introduction of Newborn First Meeting Loan Program
KT has announced that starting this year, it will introduce the ‘Newborn First Meeting Loan’ as part of its employee welfare programs. This initiative allows employees to avail a loan of up to 100 million KRW per child at an interest rate of 1% upon the birth of a child. This program expands upon the existing in-company loan system, which was initially aimed at helping employees with housing funds.
KT has also introduced the ‘Elementary School Child Care Leave’ in anticipation of increased childcare needs during specific times, such as the beginning of the school term. This program allows employees with children attending elementary school to take leave for up to one year, even if they have already used the full two-year parental leave per child.
Moreover, KT has begun providing a monthly salary of 1.6 million KRW for the second year of parental leave, which previously was unpaid. And to ease the financial burden that arises from reduced income during leave, KT has decided to defer the repayment of principal and interest on loans taken during parental leave.
Additionally, employees with children aged below 12 or in sixth grade or below can work shortened hours, with up to two hours less per day. They can also split their work hours between the office and home, making it flexible to manage work and family responsibilities.
In the latter half of the year, a large childcare center is expected to open in the remodeled Gwanghwamun building, accommodating over 100 children. This facility will feature top-tier educators, including native foreign language teachers, and provide dedicated parking spaces for parents for convenience and safety.
KT has launched the ‘Hi Baby Taskforce (TF)’ involving various departments to support employees with childbirth and parenting and to identify and improve hidden obstacles hindering an environment where employees can focus on both career and family.
KT is at the forefront of creating a culture where work and family life can coexist harmoniously. As of 2023, 97.2% of employees return to work after parental leave, and 97.7% continue working for more than 12 months post-return. Interestingly, four out of ten parental leave takers are male employees.