Lowest birth rate... Seoul City Council Speaker declares "Abolition of income criteria for low birth support"

Kim Hyun-gi, Chair of Seoul Metropolitan Council, Proposes 'Seoul-type Low Birthrate Overcoming Model'
Expansion of Public Housing and Housing Cost Support... Child Allowance Extended to Age 18

The Seoul Metropolitan Council is pushing for a plan to eliminate income criteria for all low birthrate policies. This measure aims to enhance the effectiveness of low birthrate countermeasures by removing thresholds in areas such as rental housing and housing cost support to expand the range of benefits.

On the 23rd, Kim Hyun-gi, Chairperson of the Seoul Metropolitan Council, proposed the 'Seoul-type Low Birthrate Overcoming Model' at a New Year press briefing held at the Seoul Metropolitan Council Members' Hall in Jung-gu, stating, "The most serious issue in Seoul right now is the low birthrate."

Kim Hyun-ki, Chairman of the Seoul Metropolitan Council.
[Photo by Seoul Metropolitan Council]

The key point is to consult with the city to remove all income criteria to increase the effectiveness of low birthrate policies. Any newlywed or household expecting a child will be eligible for benefits. For example, the income thresholds applied to various policies such as eligibility for public rental housing (within 120% of the average urban worker's income, approximately 6 million KRW per month for a two-person household), support for jeonse and monthly rent deposit interest (annual income within 97 million KRW), and Seoul-type childcare support (below 150% of median income, approximately 6.6 million KRW per month for a three-person household) will be eliminated. Chairperson Kim added, "We plan to remove these income criteria so that any newlywed or household expecting a child can receive benefits."

To address housing issues, which are considered a major cause of the declining birthrate, about 14,000 newlywed or child-expecting households annually will be able to enjoy public rental support policies regardless of income. Additionally, for public rental housing, a proposal was made to prioritize the allocation of about 4,000 units per year, corresponding to approximately 15-20% of the annual supply, to newlywed or child-expecting households (or households with children born within the past year).

Regarding financial support, a plan was also introduced to support 10,000 households annually and fully cover loan interest for families with three or more children. The funding will initially be covered by Seoul city resources in the short term, with plans to request the central government to relax standards later.

Furthermore, there is a plan to extend child allowance support, currently focused on children aged 0 to 8, up to 18 years old to prevent childcare gaps. This involves extending the child allowance, which currently stops after age 8, up to 18 years old with a monthly support of 100,000 KRW. Chairperson Kim stated, "Seoul's total fertility rate in 2022 was 0.59, the lowest nationwide. Among the 565 public elementary schools in Seoul this year, more than 60%, or 352 schools, have fewer than 100 new students," adding, "The council will boldly propose housing and childcare policies never seen before and work with the city to implement them."

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