Popular Articles
Today Week Month Year

South Korea boosts childbirth bonuses and housing subsidies to combat plummeting fertility rate
By Laura Harris // Jan 08, 2024

South Korea is planning to provide even more childcare and housing subsidies for new parents to combat the country's rapidly crumbling fertility rate.

The proposed measures, introduced by the Ministry of Health and Welfare, seek to encourage more couples to raise children to improve the country's low fertility rate. This low rate has been attributed to a variety of factors, including high housing costs, intense and expensive competition in children's education and increasing gender tensions.

According to the ministry, under the new law, the government will offer cash incentives for childbirth, such as ?2 million ($1,521) for the first child, ?3 million ($2,282) for the second or subsequent children and ?5 million ($3,803) for twins.

The ministry will also be offering expanded parental leave benefits of six months off for both parents, doubling the previous allowance of three months in 2023. (Related: DEPOPULATION: Maternity wards across America are closing down as birth rates collapse.)

Parents with children under one year old will also receive monthly stipends of ?1 million ($760) – up from ?700,000 ($532) a month – and ?500,000 ($380) for households with children between one and under two years old, up from ?350,000 ($266) a month.

Furthermore, the government will be providing subsidized mortgages with vastly lower interest rates to the parents of newborns to alleviate the burdens associated with housing expenses and to encourage young couples to consider starting a family. The Presidential Committee on Aging Society and Population Policy announced that more benefits and subsidized assistance policies will be unveiled in the coming months.

We are building the infrastructure of human freedom and empowering people to be informed, healthy and aware. Explore our decentralized, peer-to-peer, uncensorable Brighteon.io free speech platform here. Learn about our free, downloadable generative AI tools at Brighteon.AI. Every purchase at HealthRangerStore.com helps fund our efforts to build and share more tools for empowering humanity with knowledge and abundance.

As a response to the national initiative, other local governments have already implemented their own programs to make childcare more affordable.

For instance, the city of Incheon has created a "100 million + 1 dream" support package with a total value of ?100 million ($76,000). Families with kids born in 2023 will be eligible to receive these packages up until their children turn 18. Last year, Incheon Mayor Yoo Jeong-bok increased the value of the subsidies by about $21,000 by providing families with more benefits, including subsidized transportation costs. Yoo claims these new benefits could even inspire the national government to provide an even more proactive birth policy.

South Korea has one of the lowest fertility rates in the world

Statistics Korea, the country's national statistics agency, recently announced that the country had one of the lowest fertility rates in the world in 2022. The country's birth rate that year was 0.78, slightly higher than the fourth quarter's all-time low fertility rate of 0.7. The annual rate is also slightly lower than the rate of 0.81 recorded in 2021.

Based on these figures, the consequences of this continuous drop in fertility rate are far-reaching, with the number of children entering elementary school this year projected to fall below 400,000 for the first time.

The Bank of Korea, the country's central bank, also issued a warning to the public that if current trends persist, the national economy will start shrinking by 2050 due to the retiring workforce and a projected slowdown in consumption.

Moreover, the central bank has also warned of national security concerns associated with low fertility, as the birth rate of North Korea is currently double that of the South. This could leave Seoul with an increasingly diminishing pool of people who could be conscripted for military service in case the country needs to respond to national threats militarily.

In a press conference in December 2023, presidential spokesperson and nominee to be minister of finance Choi Sang-Mok compared the situation to people on the Titanic watching the approaching iceberg. Choi believes it is too late to avoid a crash, estimating that it would take 30 years for current pro-birth policies to improve the fertility rate.

Choi warned that the country needs to prepare for potential worker shortages, lower tax revenues and increased welfare costs due to a rapidly aging population.

Lee Jae-woo, a professor at Inha University in Incheon, called for the government to propose more aggressive policies, including providing very affordable rental housing units for new parents and developing artificial intelligence-based tools as alternatives to expensive private tutoring – the costs of which sometimes exceed what families spend on food or housing.

"The government and society must make all efforts for our country to be reborn as a place that is good for raising children. If we don't solve the problem of the low birthrate, South Korea will disappear," Lee said.

Learn more about the demographic crisis affecting countries all over the world at PopulationCollapse.com.

Watch the video below to find out why the global elite wants depopulation by 2025.

This video is from the Third Watch channel on Brighteon.com.

More related stories:

Japan’s population fell by nearly 800,000 last year, with drops recorded in all 47 prefectures for the first time.

Hospitals across the U.S. closing down MATERNITY WARDS due to staff shortages, low birth rates.

DEMOGRAPHIC CRISIS: Declining population due to low birth rates is the biggest threat to Europe, warns Hungarian president.

Sources include:


KoreaTimes.co.kr 1



KoreaTimes.co.kr 2


Take Action:
Support NewsTarget by linking to this article from your website.
Permalink to this article:
Embed article link:
Reprinting this article:
Non-commercial use is permitted with credit to NewsTarget.com (including a clickable link).
Please contact us for more information.
Free Email Alerts
Get independent news alerts on natural cures, food lab tests, cannabis medicine, science, robotics, drones, privacy and more.

NewsTarget.com © 2022 All Rights Reserved. All content posted on this site is commentary or opinion and is protected under Free Speech. NewsTarget.com is not responsible for content written by contributing authors. The information on this site is provided for educational and entertainment purposes only. It is not intended as a substitute for professional advice of any kind. NewsTarget.com assumes no responsibility for the use or misuse of this material. Your use of this website indicates your agreement to these terms and those published on this site. All trademarks, registered trademarks and servicemarks mentioned on this site are the property of their respective owners.

This site uses cookies
News Target uses cookies to improve your experience on our site. By using this site, you agree to our privacy policy.
Learn More
Get 100% real, uncensored news delivered straight to your inbox
You can unsubscribe at any time. Your email privacy is completely protected.