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 […]
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