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Parents push for W1.5 mil. child care allowance until age 13
A baby plays with blocks at a baby products fair in Gangnam, Seoul, May 1. Yonhap
By Park Ung
A father of a 15-month-old baby who asked to be identified only by the surname Park, was surprised last year by just how expensive raising a child can be.
“Just the basics — things like diapers and infant formula — cost around 1 million won ($714) a month,” Park told The Korea Times. “And once your baby starts eating solids instead of formula, the costs only go up.”
Thankfully, the government provides some support: a parental allowance of 1 million won per month for babies under 12 months, and half that amount for 1-year-olds. Still, Park believes more is needed.
“If they raise it, I think it could even cover day care,” he said.
Park isn’t the only one who feels this way.
According to a recent survey of 2,000 parents of infants and young children conducted by the Korea Institute for Health and Social Affairs, most parents of infants believe the government’s parental allowance should be at least 1.5 million won — significantly higher than the current level of support.
The minimum amount respondents desired was roughly equivalent to the average monthly cost of raising a child. According to the survey, in 2023, the average monthly cost was just under 1.44 million won for infants under 12 months old, and slightly less than 1.46 million won for 1-year-olds.
The survey also revealed that an increase in financial support topped the list of needed improvements in child care policy, cited by 23.8 percent of respondents. This was followed by calls to improve the payment system and to create a more supportive environment for raising children.
Separate from the monthly parental allowance, parents of newborns under 1 year old, who are officially registered at birth, are eligible for a voucher: 2 million won for a first child and 3 million won for a second child or beyond, if the child was born last year or later.
Visitors shop for baby clothes at a baby products fair in Gangnam, Seoul, May 1. Yonhap
When asked how long the government should provide monthly support for raising children, respondents' answers yielded an average cutoff age of 13.49 years.
The survey found that while a parental allowance eased the financial burden of raising children, it had little impact on decisions regarding having additional children.
When respondents ranked the areas where the allowance was most useful, easing child care costs came first, followed by supporting the child's healthy growth and development and helping parents raise children in their preferred way.
Influencing decisions to have more children ranked fourth. “The parental allowance doesn’t even meet the minimum wage (which is approximately 2.1 million won per month this year), so no, it doesn’t really help with deciding to have more children,” said one of the parents who took part in the survey.