Korea to Triple Baby Payments After It Smashes Own Record for World’s Lowest Fertility Rate
- Thread starter bnew
- Start date
To focus on consumerism like japan women ain’t putting out dudes probably into dudes. the k pop nikkas be looking real sus
Korea to Triple Baby Payments After It Smashes Own Record for World’s Lowest Fertility Rate
South Korea plans to provide every family with a newborn child a monthly allowance of 1 million won ($740), in its latest move to encourage more births and try to address the world’s lowest fertility rate.www.bloomberg.com
By
- Government to sharply lift allowances to encourage more births
- Increase in family support comes despite tighter fiscal policy
Sam Kim
August 30, 2022 at 10:52 PM EDT
South Korea plans to provide every family with a newborn child a monthly allowance of 1 million won ($740), in its latest move to encourage more births and try to address the world’s lowest fertility rate.
The handout will begin next year at a level of 700,000 won a month and then rise to the full amount in 2024, according to a budget proposal unveiled this week. Once the child turns one, the stipend will be reduced by half and run for a further year.
Dubbed locally as “parent pay,” the 1 million-won allowance was among a series of election campaign pledges by President Yoon Suk Yeol to address Korea’s low birth rate. Yoon, who took office in May, has described the demographic outlook as a national “calamity.”
Back to the Future
By century's end, South Korea may have as many people as it did after war
The expanded support for parents comes even as the nation shifts to a more stringent fiscal policy in order to rein in pandemic-era debt. The spending initiative on new-borns underscores the urgency of tackling one of the nation’s greatest long-term risks.
Under the previous administration of Moon Jae-in, who ran a more expansionary fiscal policy, each new-born child was provided with 300,000 won a month over their first year. That program will now be subsumed by Yoon’s.
Korea shattered its own fertility record in 2021 when the expected number of babies per woman slipped to 0.81 from 0.84 a year earlier. That shone a light on an already dire outlook with the United Nations predicting the population of 51 million will more than halve by the end of this century.
A shrinking workforce presents an array of challenges for policy makers that includes everything from stagnant economic growth to soaring welfare payments. Korea’s demographic problem may be a harbinger for the rest of the developed world that is also aging rapidly.
Among economies with per capita GDP of at least $30,000, Korea is the fastest-aging, according to UN and World Bank data. By 2100, its population is projected to fall by 53% to 24 million.
In the decades following the 1950-53 Korean War, the population at least doubled, and in an effort to curb the baby boom in the early years of economic development the government encouraged couples to have only one child. That policy was scrapped around the turn of the century as births started to tumble.
Korea is estimated to have already spent hundreds of billions of dollars on trying to reverse the decline. The results so far have been underwhelming, with only 260,600 babies born last year, or 0.5% of the population.
China in particular. They can't even finish them Lego cities they were putting together. Germany and the Scandinavian countries knew this a decade ago.
Dance_Like_A_Fiend
All Star
The finest Asian women I’ve seen have been Korean, but only a few were actually from Korea. The rest were living in the US or Hapas
South Korea?
I think your talking about China breh
Trust me I lived in South Korea for a year. Them women LOVE American men (particularly black men) and the culture is pretty obsessed with all things American culture
Some dummy gonna book a flight to North Korea thinking he bout to eat
Red Shield
Global Domination
Not seeing it. Once developing countries hit that 10k gpd per cap.. most folks stop leaving and stay in their own countries. So the type of immigrant that countries would want goes down.
That and I expect to see a further increase in the far-right... in the west anyway. So their not gonna want an increase in immigration from certain places.
But yeah I do expect the robots to eventually take over... but if it happens we will either be real old or gone.
So if all is well then what's the problem? The GDP increased but somehow the cost of living precludes child births.
At the end of the day this is a fake ass concern trolling article, If it doesn't matter to bae suzy then it doesn't matter to me.
Because they're projecting into the future - babies are to help the economy 20-50 years down the line, not at the moment. There's a ton of money in the country now but it's concentrated at the top and they'll be fukked if there are no workers 30 years from now.
Investing all that excess wealth right now in order to increase the chances of having a labor base a generation from now is a SMART investment. Like I said before, you're just letting your prejudice and agendas drive your positions and aren't even thinking through what's going on.
How can they lower prices without lowering demand? I guess they could build tons of Public housing or give out vouchers but that's just a stop gap measure.
BruhManFromTheFifthFlo
Veteran
I remember seeing a documentary about a lack of male pornstars in some Asian country as well.
Them Asian nikkas really leaving p*ssy on the table. A nikka could clean up over there
Them Asian nikkas really leaving p*ssy on the table. A nikka could clean up over there
i dont use that term like that, but women in general desire new seed or atleast seed that they believe they can conceive with
as far as I remember korea/japan also have some of the highest rates of facial plastic surgery as well. I read somewhere where a man divorced his wife cause his kids looked like neither like her OR him
