"Have a Child in Incheon, Receive 100 Million KRW"... Custom Support Initiative Reaches Midpoint

Second Phase "Cheonsa Support Fund" Applications Open on June 10
Incheon to Provide 1.2 Million KRW Annually to Children Aged 1 to 7
Third Phase "i Dream Allowance" Expected to Launch Later This Year

The "1 Hundred Million Plus i Dream" (1억+ i dream) initiative, which provides a total of 100 million KRW in support to every child born in Incheon until they reach the age of 18, is set to launch its Cheonsa Support Fund program on June 10.

[Image source=Incheon City]

On June 5, Incheon City announced that the Cheonsa Support Fund, part of the "1 Hundred Million Plus i Dream" initiative, will be implemented starting June 10. The Cheonsa Support Fund provides a "First Encounter Voucher" worth 2 million KRW and an annual payment of 1.2 million KRW to children aged 1 to 7 who have been registered residents of Incheon for at least one year. In addition to the existing child allowance of 100,000 KRW per month for children aged 0 to 7, which is funded by the national government, Incheon City will provide an extra 1.2 million KRW per year to children aged 1 to 7. The Cheonsa Support Fund will be distributed in the form of Incheon e-Eum points, the region’s local currency.

With the full-scale implementation of the Cheonsa Support Fund, the "1 Hundred Million Plus i Dream" initiative will reach its halfway point. The initiative consists of three programs: transportation subsidies for pregnant women, the Cheonsa Support Fund, and the Incheon i Dream Allowance. With the Cheonsa Support Fund now launching, only the final program remains. The transportation subsidy for pregnant women, which provides 500,000 KRW for taxi fares or private vehicle fuel costs, has been in effect since April. The Incheon i Dream Allowance is a program that will provide 150,000 KRW per month to children aged 8 to 18. Incheon City has already secured a budget of 7.5 billion KRW for this program this year, and only government approval remains before implementation, which is expected in the second half of the year. However, the allowance will start at 50,000 KRW per month this year and will be gradually increased. The Incheon i Dream Allowance will be funded jointly by Incheon City and its districts and counties, with an 8:2 matching ratio.

The "1 Hundred Million Plus i Dream" initiative, announced by Incheon City in December 2023, is a local government birth policy designed to address the issue of low birth rates. Its core principle is to extend support, which has traditionally focused on infants and toddlers, continuously up to the age of 18. A child born in Incheon will receive a total of 100 million KRW in benefits by the time they turn 18, combining 72 million KRW from existing government and local government programs-such as parental allowances, child benefits, and education costs for elementary, middle, and high school-with an additional 28 million KRW newly provided by Incheon City.

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