Beginning January 1, 2023, the South Korean government has introduced a monthly parental stipend in South Korea. Parents can apply to receive 700,000 KRW per month for children under the age of 1. An additional 350,000 KRW per month will be given for the second year of a childโs life, from when they are 1-2 years old.
What is a Monthly Parental Stipend?
Monthly parental stipends are a form of welfare service. Its purpose is to reduce the financial burden of childbirth and child-rearing and to support intensive care for infants.
South Korea is one of the top countries in the world when it comes to population decline. In order for a population to be sustained, there should be 2.1 births per woman however, in South Korea, the population is only 0.8. This means that in a single generation, South Korea is on track to seeing its population cut by more than half. It is predicted that if the trend continues, the country will face a large economic decline in the future. A small workforce will need to provide for a large number of seniors.
As a result, the Korean government is doing its best to provide more assistance so that raising children is less of a burden. Hopefully, if the cost is reduced, more people will choose to have children.
For Children Under 1
Although 700,000 KRW will be provided to families with an infant, not all of it will be distributed in cash. Many families were already receiving government subsidies for daycare. This benefit will be an addition to childcare services. Child care vouchers when using a daycare center and government subsidies for child care are deducted from the amount parents receive. If you use child care centers, 514,000 KRW is deducted from the 700,000 KRW. As a result, parents will receive 186,000 KRW in cash.
Parental Stipend for Families with Infants 0-1 breakdown:
If you donโt use childcare: KRW 700,000 (child care vouchers included)
If you use childcare: The remaining 186,000 KRW in cash
For Children 1-2
Guardians of children ages 1-2 can receive a parental stipend of up to 350,000 KRW. However, the benefit is part of the childcare subsidies program. As a result, if you already receive childcare benefits, you will not get any additional assistance.
Parental Stipend for Families with toddlers 1-2 breakdown:
If you donโt use childcare: 350,000 KRW
If you use childcare: 514,000 KRW in child care vouchers, no additional cash.
How to Apply for a Monthly Parental Stipend
When to Apply
Beginning Jan 4, 2023, those with children born after Jan 1, 2022, can apply for the stipend. Guardians of children under 24 months can apply (grandparents, relatives, etc.). Guardians must actually be protecting and raising the child themselves.
Applications must be made within 60 days of a childโs birth to receive support starting from the month of birth. If you apply after 60 days of age, you will be paid starting on the month of application.
For example: if your child is born on January 1, 2023, if you apply on March 1 , 2023, you will get back paid for January and February (your first payment should be at least 2,100,000 KRW). However, if you apply on March 2, 2023, you will not get back payment (Jan 31 days +Feb 28 days + March 2 days = 61 days).
Where to Apply
Parents can apply for parental benefits by visiting community centers in thier local Eup, Myeon, or Dong. It should be the location nearest to the address of the childโs resident registration. Or, you can apply online. You can apply through the welfare portal site (www.bokjiro.go.kr) or the online government civil service portal, Government 24 ,(www.gov.kr). Online application is only possible if the guardian of the child is a biological parent.
Application Methods
1.Local Community Center (์ฃผ๋ฏผ ์ผํฐ)
2.Welfare Portal (www.bokjiro.go.kr)
3.Government 24 (www.gov.kr)
Payment Date
Monthly parental stipends will be deposited into accounts on the 25th of each month.
My Experience
I can see that this benefit is clearly so helpful. My son was born in 2021 so, can not receive this benefit. However, I did receive a different benefit. At the time 200,000 KRW was available to parents. I used all of it to go towards my sonโs daycare so that I could continue to work and support us.
I am sure this will help many families because no matter how much money you earn a month you can get it. Hopefully, this benefit motivates Korean citizens to have babies and increases the birth rate a little bit.
Thanks for reading my posts once again, and share it with your friends ~
