A few days ago, South Korean President Yoon Seok-yue declared that the country has entered a \”population national emergency\” to mobilize national efforts to deal with the low birth rate in South Korea. To this end, the South Korean government has released fifteen core policies in various fields, including extended vacations, tax exemptions, housing security, and childbirth and parenting support. These policies aim to increase the fertility rate to 1.0 by 2030. In terms of extended leave, the South Korean government provides workers with children who are 8 years old or under the second grade of elementary school for up to one year of paid childcare leave, which can be used in three times. This means better care for your children and enough time for them to grow up. 
Let’s take a look at the specific policies:
The core of the Korean government’s new policy is to increase paid leave for childcare and increase wages during the holiday. According to the current policy, the Korean government will grant each other more than one year of paid parental leave for employees with children who are 8 years old or younger than the second grade of elementary school. They can apply for parental leave up to three times. In the new deal, parental leave can be divided into four applications to make it more efficient. The holiday pay is changed to 2.5 million won per month for the first 3 months, 2 million won per month for the 4th to 6th month, and 1.6 million won per month after the 7th month. The salary of employees on parental leave has increased by 5.1 million won compared with the past. This system is scheduled to be implemented in January next year.
The South Korean government decided to introduce a \”special tax exemption system for marriage\”, which is the first time at the central government level. The Ministry of Strategy and Finance will determine the amount of tax exemptions when it publishes the tax law revision next month. The most likely plan is to exempt newlyweds by 1 million won each (1 yuan is equivalent to 190 won). In addition, the government will also give married couples more tax exemptions based on the number of children they have. A family with one child will receive a tax exemption of 250,000 won, a family with two children will receive a tax exemption of 300,000 won, and a family with three children will receive a tax exemption of 400,000 won. This is higher than the current standard. Both increased by 100,000 won. A family with three children can receive a tax deduction of 950,000 won for the whole year. 
Applying for housing , including pregnancy, families with children under 2 years old can pass“The \”Newborn Priority Supply\” project will receive more priority housing purchase opportunities. The number will increase from the current 70,000 households per year to 120,000 households, and the proportion of overall housing subscription will also increase from 20% to 35%.
The Ministry of Education has also announced a number of preferential policies for children’s education. Among them, the amount of support for education and childcare fees for children over 5 years old will be increased from 350,000 won to 550,000 won per month. Even if their children are studying in private kindergartens, parents will actually receive the same amount. There will be no financial burden on children. The government plans to expand the scope of this policy to children aged 3 to 4 years old during the term.
