The city of Incheon will begin implementing a new child allowance program next month. (Image courtesy of Yonhap)
INCHEON, Jul. 24 (Korea Bizwire) – In a bold move to address the country’s declining birth rate, the city of Incheon announced on July 23 that it will begin implementing a new child allowance program next month, separate from the existing national child benefit system.
The “Child Dream Allowance” program, set to launch on August 1, will provide a monthly stipend of 150,000 won to children aged 8 to 18 living in Incheon. This initiative is part of the city’s broader “100 Million+i Dream” policy, which aims to support every child born in Incheon with a total of 100 million won by the time they reach 18.
The comprehensive support plan combines 72 million won in existing national and local subsidies for childcare and meal expenses with an additional 28 million won from Incheon’s own budget. The Child Dream Allowance portion will provide a total of 19.8 million won over 11 years to each eligible child.
While the program is designed to fully benefit children born in 2024 when they turn 8 in 2032, the city has devised a transitional plan to ensure fairness. Children born between 2016 and 2019 will receive 50,000 won monthly, while those born from 2020 to 2023 will get 100,000 won.
For children born in 2016, the first cohort eligible this year, parents can apply through the online government service portal Government24 or at their local administrative welfare center. Approved applicants will receive monthly payments of 50,000 won via the local e-Eum Card until 2034.
The introduction of the Child Dream Allowance marks the full implementation of Incheon’s 100 Million+ i Dream policy to combat low birth rates. Since April, about 11,700 pregnant women have applied for the city’s 500,000 won transportation subsidy. Additionally, around 5,700 children aged 1-7 have been registered for the Angel Support Fund, which provides 1.2 million won annually, since its June launch.
Yoo Jeong-bok, the mayor of Incheon, expressed hope that the city’s proactive approach to addressing low birth rates would inspire similar national policies. “We expect that Incheon’s pioneering low birth rate measures will soon be expanded into national birth encouragement policies, leading to comprehensive government-level solutions,” he said.
M. H. Lee (mhlee@koreabizwire.com)
