《TAIPEI TIMES》 FPG to spend NT$140m annually to boost births

/ Staff writer, with CNA

Formosa Plastics Group （FPG, 台塑集團） yesterday said it would allocate about NT$140 million （US$4.4 million） a year to its childcare subsidy program to boost the number of children born to FPG employees.

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The group said that it launched the childcare program in July, when it began providing NT$2,000 a month to employees for every child until they turn six.

The group, which includes Formosa Plastics Corp （台灣塑膠）, Nan Ya Plastics Corp （南亞塑膠）, Formosa Chemicals & Fibre Corp （台灣化纖） and Formosa Petrochemical Corp （台塑石化）, is to pay a one-time subsidy of NT$20,000 whenever an employee or spouse of an employee gives birth.

Based on expectations that the group’s employees or their spouses would give birth to 850 babies a year, the group said it would spend about NT$140 million a year on the subsidy program.

To supplement the program, the welfare committees of the group’s member companies would also provide scholarships for employees’ children all the way through graduate programs.

FPG is just one of several prominent business groups in Taiwan to provide expanded childcare subsidies as the natoin’s birthrate continues to decline.

Manufacturing giant Hon Hai Precision Industry Co （鴻海精密） in February last year unveiled an expanded childcare subsidy program in which it provides NT$15,000 per month per child to employees who have children under seven years old.

That incentive was an expansion of a previous plan introduced in 2015 that provided monthly subsidies for children up to three years old.

Display driver IC designer Novatek Microelectronics Corp （聯詠科技） in November last year started offering employees NT$5,000 per month for each child they have under the age of six.

Taiwan Semiconductor Manufacturing Co （台積電）, the world’s largest contract chipmaker, this year extended its maternity leave to 12 weeks from eight weeks and started offering a NT$10,000 subsidy per child to its employees.

新聞來源：TAIPEI TIMES