Newlyweds with Homes Have More Babies: Report | Be Korea-savvy

Newlyweds with Homes Have More Babies: Report

(Image : Kobizmedia / Korea Bizwire)

(Image : Kobizmedia / Korea Bizwire)

SEOUL, Mar. 28 (Korea Bizwire)Couples who purchase a home or live rent free early on in their marriage tend to have more children, a report showed Wednesday, indicating a correlation between housing and family planning.

According to the report by Korea Institute for Health and Social Affairs, 54.7 percent of newlyweds live in “jeonse” homes, followed by those with their own homes at 26.3 percent. Couples paying monthly rent stood at 10.7 percent, and those living without paying rent in an arrangement with parents reached 8.4 percent.

Jeonse is a home rental arrangement unique to South Korea in which tenants pay a lump-sum deposit instead of monthly fees, and landlords return the full deposit at the end of the rental period, which usually lasts two years.

The report showed that couples living by jeonse currently have 0.78 children and plan to have 1.56 children, compared with 0.86 and 1.66 children, respectively, for couples living in their own home.

Newlyweds who live in a house provided by their parents or other family members currently have 0.94 children and plan to have 1.78 children, the report said.

The report was based on a survey conducted on couples who have been together for five years or less between 2014 and 2016.


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