Changwon-si, Expected Effects of the 'Marriage Dream Loan' Forgiving Loans for Families with Three Children?

Disclosure of Feasibility Review Results at Changwon City Population Policy Public Forum

[Asia Economy Yeongnam Reporting Headquarters Reporter Park Saeyan] Changwon City, Gyeongnam, held a public forum on population policy titled 'Marriage Dream Loan, Finding Solutions with Citizens' on the 26th at the City Hall Citizen Hall.

The Marriage Dream Loan is a population increase policy that Changwon City plans to promote to counter the trend of population decline.

It is a system that supports the formation of a large sum of money in stages: couples who borrow 100 million KRW at marriage receive interest support (for the first child born within 3 years), 30% repayment support of the loan principal (for two children born within 10 years), and full repayment support of 100 million KRW (for three children born within 10 years).

Professor Kwon Heekyung of the Department of Family Welfare at Changwon National University presented a feasibility study result indicating that the introduction of the Marriage Dream Loan would be effective.

Professor Kwon estimated that without introducing the Marriage Dream Loan, the number of marriages in Changwon City in 2030 would be less than 3,000, and the number of births would be less than 3,200.

She predicted that if the Marriage Dream Loan is implemented, the number of marriages would increase by an average of 3.4% annually, and the number of births would increase by an average of 5.5% annually during the first five years, with population inflow from other local governments as well.

However, Professor Kwon also raised the possibility that the annual budget required by Changwon City for the Marriage Dream Loan could start at 2 billion KRW and exceed 100 billion KRW annually depending on the repayment method, potentially burdening the finances.

She pointed out the need for measures to prevent cases where recipients of the Marriage Dream Loan support move out to other areas afterward.

On the other hand, Kim Jihyun, team leader of the Changwon Youth Vision Center, expressed the opinion that the Marriage Dream Loan is not a solution to the population decline problem.

Team leader Kim stated, "The Marriage Dream Loan does not properly reflect the realistic concerns of young people," and emphasized that urban infrastructure, such as expanding youth monthly rent support, is very important.

Kim, the planning officer, introduced the results of a survey conducted on 463 marriage registrants who visited the district office civil service center in Changwon City, where 40.4% of respondents said they 'knew' about the Marriage Dream Loan, and 79.7% of those who knew supported the implementation of the Marriage Dream Loan.

This content was produced with the assistance of AI translation services.