Yoon Suk-yeol: "I will provide 1 million won monthly for one year to all newborns' parents"

Yoon Seok-yeol, the presidential candidate of the People Power Party, is holding a New Year's press conference on the direction of national governance at the Grandfather Factory Cafe in Seongdong-gu, Seoul, on the 11th. Photo by the National Assembly Press Photographers Group

[Asia Economy Reporters Naju-seok and Park Joon-yi] Yoon Seok-yeol, the presidential candidate of the People Power Party, pledged on the 11th to introduce a ‘Parent Allowance’ that provides parents with 1 million won per month for one year when a child is born. Candidate Yoon outlined directions to overcome COVID-19, low growth, low birth rates, polarization, and real estate issues.

At a New Year press conference held at a cafe utilizing a closed factory in Seongdong-gu, Seoul, Candidate Yoon said, "To support citizens who wish to have children, we will introduce a ‘Parent Allowance’ for all citizens," adding, "When a child is born, parents will receive a fixed monthly allowance of 1 million won for one year." Other measures to address low birth rates include the promotion of a newly established ministry dealing with social issues such as children, families, and population. Previously, Candidate Yoon had pledged to dismantle the Ministry of Gender Equality and Family.

Regarding economic growth, Candidate Yoon stated, "Through a ‘Fair Innovation Economy,’ we will double our economy’s growth potential and job creation capacity." In a Q&A session with reporters, he said, "The target figure is not the most important thing," but added, "We will raise the potential growth rate, currently estimated at about 2%, to 4%."

On COVID-19 response, Candidate Yoon promised, "We will introduce a ‘National Responsibility System for Essential Medical Care,’" assuring, "Even if a greater medical disaster occurs, we will ensure that intensive care units and emergency rooms are not insufficient, so that citizens do not suffer in agony." He also stated, "We will sequentially introduce public policy fees to secure citizens’ health rights in severe trauma centers, delivery rooms, neonatal units, and facilities treating geriatric diseases."

For self-employed individuals suffering from COVID-19, Candidate Yoon pledged to introduce a ‘Rent Sharing System,’ where rent is divided equally among landlords, tenants, and the government.

Regarding real estate measures, as previously announced, he proposed supply through deregulation, including 300,000 cost-price housing units and 200,000 first-home units near subway stations. Additionally, he said, "We will establish a 30-year plan for carbon-neutral energy transition," and "We will make nuclear power plants safer and manage them at an appropriate level."

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