Ruling and opposition parties come up with measures for Korea’s low birth rate

Representative Lee Jae-myung of the Democratic Party of Korea announces a comprehensive plan to reduce the birthrate at the National Assembly on the 18th. National Assembly Press Corps

The ruling and opposition parties came up with major measures for low birth rate on January 18. The ruling People’s Power Party (PPP) focused on establishing a work-family compatibility system and supporting small and medium-sized enterprises, while the main opposition Democratic Party of Korea (DPK) focused on expanding universal cash support.

The PPP announced a pledge of "happiness for both work and family" at a company in Gangnam-gu, Seoul. It will push for a plan to make paid maternity leave for spouses, which is currently 10 days, mandatory for one month. The related law will be revised so that maternity and paternity leave are automatically initiated upon application. The upper limit of parental leave benefits will be raised from the current 1.5 million won to 2.1 million won, and paid child care leave will be newly established for five days per year until children are in their third year of elementary school.

Workers whose workload increases as their coworkers work fewer hours or are on parental leave during their parenting period will be paid the "Parenting Coworker Allowance." Instead of abolishing the Ministry of Gender Equality and Family, a deputy prime minister-level Ministry of Population will be established to oversee low birth policies. The PPP estimates that it will cost about 3 trillion won to fulfill its birth rate pledge.

The DPK held an event to announce its comprehensive measures for low birth rate at the National Assembly. The main goal is to provide cash to all children born regardless of the parents’ income. All newlyweds can get a 10-year loan of 100 million won. If a couple gives birth to the first child, they can borrow the money without interest, if they give birth to the second child, they only need to repay half the principal, and if they give birth to the third child, they do not have to repay the entire principal.

The DPK said it would provide a total of 100 million won per child. Children aged 8 to 17 will be paid 200,000 won per person per month, and the government will deposit 100,000 won per month into a fund account from the birth of children to their graduation of high school. Families with two children will be provided with a public rental house with a floor space of 24 pyeong (79㎡) and those with three children will be provided with a public rental house of 33 pyeong (85㎡). The main opposition party also included a plan that a worker can automatically take parental leave when applying for it. It was estimated that it would cost about 28 trillion won per year to fulfill the pledge.

Experts pointed out that the ruling and opposition parties' low birthrate pledges are meaningful, but also have their limitations. Oh Geon-ho from a welfare organization said, "We need both work-family balance, which is the PPP’s pledge and massive cash support, which is the DPK’s pledge," but added, "In the case of the DPK, a plan to raise funds should have been proposed together." Yoo Hae-mi, a senior researcher at the Korea Institute of Child Care and Education, said, “Both the ruling and opposition parties lack measures to shorten working hours. If parents work long hours, any measures for low birth are a stopgap."

※This article has undergone review by a professional translator after being translated by an AI translation tool.