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When giving birth to a child in this country, a leave of one and a half years will be granted, the salary will also come, know what the reason is

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Each couple will be allowed to take leave of up to a year and a half
South Korea’s fertility rate will fall to 0.81 in 2021
spent over $200 billion in the past 16 years

Seoul, South Korea has come up with a new plan for working parents in a bid to boost its record birth rate. According to a Vice News report, South Korea is considering increasing parental leave for working parents. Under a plan announced by South Korean Labor Minister Lee Jeong-sik on Monday, each couple will be allowed to take up to a year and a half of parental leave, up from the current one. Both parents are eligible as long as they work. However, the salary structure of this new allowance remains to be confirmed.

It’s unclear when the new proposal will pass, but if passed, the amendment would make South Korea’s already generous parental leave the longest in Asia. It will also be the longest paternity leave in the world to date. The move is intended to encourage South Korean parents to have more children and increase the country’s birth rate. Let us tell you that the country’s fertility rate has dropped to 0.81 in 2021. According to the Organization for Economic Co-operation and Development (OECD), this is far less than the 2.1 needed to maintain a height stable population without migration. By comparison, the fertility rate was 1.37 in Japan and 1.66 in the United States.

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In South Korea, such demographic trends have caused officials to worry about a shrinking labor force and population. The country of around 52 million people is currently the fastest aging of the 38 wealthy OECD countries. Despite spending more than $200 billion over the past 16 years on childcare subsidies and parental leave assistance, the government has been unable to reverse the trend, according to the report.

Tags: parents, Population policy, South Korea, world news

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