HAENAM, South Korea, Feb. 8 (Korea Bizwire) — Haenam County in South Jeolla Province has introduced an expanded financial support system for newborns, ensuring that a child born in 2025 will receive up to 91.56 million KRW ($63,100) in government assistance by the time they turn 18. According to Haenam County officials on February 7, the [...]
SEOUL, Oct. 30 (Korea Bizwire) – South Korea’s presidential committee on population policy unveiled additional steps Wednesday to support employees balancing work and family life, aiming to address the country’s critically low birth rate. The announcement comes amid South Korea’s alarming demographic crisis, with the total fertility rate — indicating the average number of births [...]
SEOUL, May 6 (Korea Bizwire) – A special loan program in South Korea offering rock-bottom interest rates for newlywed couples and new parents has drawn more than 5 trillion won in applications just three months since its launch, data showed on May 5. The “New Baby” loan program, introduced on January 29 by the Ministry [...]
YEOSU, Apr. 18 (Korea Bizwire) –In an effort to alleviate the financial strain associated with pregnancy, the city of Yeosu in South Jeolla Province has announced that it will provide an allowance of 500,000 won to expectant mothers. According to Yeosu officials, previous support measures related to pregnancy, including a pregnancy confirmation fee, transportation expenses [...]
SEOUL, Feb. 12 (Korea Bizwire) – The number of elementary, middle and high school students in South Korea is expected to fall below the current 5-million level in the next two years, data from a state-run institute showed Monday, amid the country’s chronically low birthrates. The total number of the students is estimated to decline [...]
SEOUL, Jan. 6 (Korea Bizwire) – In a nation grappling with low birth rates, a controversial debate is taking root among its younger generation. The crux of the argument: Should financial status be a barrier to starting a family? This discourse, which is gaining momentum on social media, pits the ideal of preventing the inheritance of [...]
SEJONG, Jan. 4 (Korea Bizwire) –A recent study has revealed that housing prices are the most significant factor affecting the decision to have a first child, while the cost of private education becomes more influential for subsequent children. The study on future birth rates in South Korea showed that the factors most affecting the decision [...]
INCHEON, Jan. 3 (Korea Bizwire) – On the first day of 2024, a joyous event took place at the Gachon University Gil Hospital: the birth of a healthy baby girl weighing 3.4 kg. The newborn, affectionately nicknamed ‘Horam’, combines the characters ‘Ho’ from her father Choi Ho-kyu (40) and ‘Ram’ from her mother Kim Bo-ram (36). [...]
SEOUL, Dec. 25 (Korea Bizwire) – Amid a severe decline in birth rates, the increasing popularity of pet ownership in South Korea is leading to noticeable changes in consumer spending patterns. According to G-Market, a major online retailer, pet stroller sales have, for the first time, surpassed baby stroller sales in the first three quarters [...]
SEOUL, Dec. 11 (Korea Bizwire) – The number of newly married couples fell more than 6 percent to come to around 1 million in 2022, and the proportion of the couples having no children reached an all-time high, data showed Monday. The number of newly married couples came to 1.03 million last year, down from [...]