Welcome Savings Bank, which provides a "filial piety allowance" to its employees, has disclosed a story about receiving a thank-you letter from an employee's parent ahead of Parents' Day.
According to the financial industry on Tuesday, the mother of an employee in the investment review team at Welcome Savings Bank recently sent a handwritten letter to the company, saying, "You have been providing the filial piety allowance for several years, and we have been putting it to good use." She added, "I was moved by your consideration for employees' parents, and after some hesitation, I gathered the courage to express my gratitude."
The employee said, "I was very surprised to hear that my mother had sent a letter directly to the company. She doesn't usually express herself openly, but I actually felt even more grateful that she used this opportunity to convey her feelings. Since the filial piety allowance is deposited directly into my parents' account, it feels as though the company is playing the role on my behalf."
Welcome Savings Bank's filial piety allowance provides 50,000 won per month for each parent of an employee or their spouse who is aged 65 or older. The amount is transferred directly to an account under the parent's name rather than the employee's. Including the spouse's parents, employees can receive up to 200,000 won per month.
Currently, 396 employees across Welcome Financial Group, including Welcome Savings Bank, are using the program. The number of parents receiving the allowance stands at 867. Even if one parent passes away, the same amount continues to be paid.
The company also operates welfare programs for employees' children. Welcome Savings Bank provides a child allowance to employees with children under the age of 18. At present, 239 employees and 335 of their children are benefiting from the program.
Employees with three or more minor children receive an additional multi-child allowance. Those with three minor children receive 300,000 won per month, four children 550,000 won, five children 750,000 won, and six or more children up to 900,000 won per month. The program was reportedly launched after Welcome Financial Group Chairman Son Jong-ju personally ordered a review of support measures in 2019, when news that an employee had given birth to a sixth child was shared at a group executive meeting.
Welcome Savings Bank was recognized for the achievements of these welfare programs and was selected as a "Family-Friendly Certified Company" by the Ministry of Gender Equality and Family in January.
"Welfare is an investment that builds trust among the organization, its members and their families," a Welcome Savings Bank official said. "Only when employees can work in a stable environment can we provide better financial services to our customers."
