South Korea is paying young women get pregnant and have babies as part of the incentive to battle low fertility rate that the country have been facing for 15 years. A mother of 3, Kang Mi-ok had received 2 million won, equivalent to $1,700, to promote the birth of another baby. Kang have been living in the rural county in South Korea where efforts to increase fertility rate is going strong.
Another 8 million won is going to be provided for her to help raise the baby. The financial incentive is set to be given in installments by 202 from Cheongyang County in South Chungcheong province. "It's completely a bonanza," Kang said of the fertility campaign.
The young housewife stated that the incentives have significantly made it easier for her and her husband to raise four kids. South Korea is desperate to raise its birthrate as it is clearly illustrated in Kang's case. Many young people have been deferring getting married and having babies in favor of finding decent jobs, the Vanguard says.
Due to the prolonged economic slowdown, unemployment rate for young people have reached 8.4 percent in December which is much higher compared to the overall rate of 3.2 percent of jobless people. This situation have resulted to delayed marriages and lower number of new babies. That's why the government is restlessly giving incentives to encourage people to make babies, the Yonhap News reports.
Aside from the up front 2 million won and the 8 million won to be given in increment, the government also provides college scholarships to kids. The low fertility situation is the opposite in the 1960s when the government implemented strict policies regarding birth control. As with China's massive health reform plan, South Korea also struggles to construct a new birth policy that would enhance the growth of the population.