How much has South Korea spent to boost its birth rate?

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South Korea Has Spent Over RM1.3 Trillion on Birth Rate Initiatives Since 2006

South Korea has allocated more than 360 trillion won, equivalent to approximately RM1.3 trillion, towards efforts aimed at boosting its birth rate, primarily focusing on areas such as childcare subsidies, since 2006. Despite this significant financial commitment, the country's fertility rate has continued to decline, reaching a record low. The government has designated the reversal of this trend as a national priority, signalling an intent to implement "extraordinary measures" to address the demographic challenge.
Significant Financial Investment in Childcare and Related Areas

Since 2006, South Korea has channelled substantial funds, exceeding 360 trillion won, into various initiatives designed to encourage higher birth rates. A significant portion of this expenditure has been directed towards childcare subsidies, reflecting a strategy to alleviate some of the financial burdens associated with raising children. This long-term investment underscores the perceived importance of addressing the declining population.
Government Prioritisation of Fertility Rate Reversal

The South Korean government has officially declared the reversal of the falling birth rate as a paramount national priority. This designation suggests a concerted effort to move beyond existing measures, with a commitment to developing and implementing "extraordinary measures" in response to the persistent demographic decline. The urgency is underscored by the fact that the average number of expected babies per woman fell to a new low of 0.72 in 2023.
Political Parties Pledge Housing and Loan Support

In the lead-up to the April elections, major political parties in South Korea have publicly pledged to introduce policies aimed at stemming population decline. These commitments include promises of increased public housing availability and the facilitation of easier loan access for citizens. Such proposals are intended to address underlying concerns, such as the high financial burden of marriage and child-rearing, which are cited as primary reasons for falling marriage and birth rates.

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How much has South Korea spent to boost its birth rate?

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