40 Trillion Won Invested in Last Year's 'Low Birthrate Measures'... 320 Trillion Won Spent Over 17 Years

320 Trillion Won Over 17 Years Since 2006
Astronomical Budget with Unknown Spending
Control Tower Needed for Permanent Discussions

The government’s budget spent last year under the name of low birthrate countermeasures has been identified as amounting to 40 trillion won.

Cho Gyu-hong, Minister of Health and Welfare, appeared at the National Assembly’s Special Committee on Population Crisis on the 31st and stated, "Since the enactment of the Basic Act on Low Birthrate and Aging Society, approximately 320 trillion won has been invested in low birthrate and about 200 trillion won in aging over 17 years since 2006."

The government had previously announced that 280 trillion won was invested in the low birthrate budget from 2006 to 2021. This is the first time the total amount of last year’s low birthrate-related budget has been revealed. During the Population Special Committee meeting, ruling and opposition lawmakers repeatedly criticized the government’s low birthrate measures. South Korea’s total fertility rate is 0.78, which is considered insufficient in effect compared to the budget invested.

Yoo Kyung-joon, a member of the People Power Party, pointed out, "A cost-benefit analysis should be conducted to verify where and how the astronomical budget was spent," adding, "However, when requesting detailed budget breakdowns from the Ministry of Economy and Finance, which oversees the budget, the Ministry of Health and Welfare, the main ministry in charge of low birthrate, and the Ministry of Gender Equality and Family, they only say it is the work of the Low Birthrate and Aging Society Committee, and no ministry accurately understands it."

Minister of Health and Welfare Cho Kyu-hong is reporting on work at the plenary meeting of the Special Committee on Population Crisis held at the National Assembly in Yeouido, Seoul, on the morning of the 31st.
[Image source=Yonhap News]

When Minister Cho responded, "The Low Birthrate and Aging Society Committee (Jeogowi) plans to be responsible for performance evaluation through the Population Policy Evaluation Center," Representative Yoo criticized, "Can Jeogowi personnel evaluate the performance of 280 trillion won over 16 years and 320 trillion won over 17 years?"

Yoon Jun-byung of the Democratic Party also pointed out, "Although 320 trillion won was spent over 17 years, the effect was minimal," adding, "The reason is that policies were not properly managed and the implementing bodies were unclear."

Minister of Gender Equality and Family Kim Hyun-sook (from the right), Minister of Employment and Labor Lee Jeong-sik, and Minister of Health and Welfare Cho Kyu-hong are conversing at the plenary meeting of the Special Committee on Population Crisis held at the National Assembly in Yeouido, Seoul, on the morning of the 31st. [Image source=Yonhap News]

Lee Jong-sung of the People Power Party also said, "Trying to somehow insert low birthrate to receive a large budget from the Ministry of Economy and Finance has led to populist policies becoming important national policy agendas," and added, "I urge that the low birthrate budget should not become a budget that can be interpreted in any way depending on convenience." He continued, "It also causes an optical illusion among the public," and suggested, "It is easy to misunderstand that an astronomical budget was poured in but the results are only this much. Projects should be carried out with direct effects."

Meanwhile, this Population Special Committee meeting is effectively the first meeting held four months after the ruling and opposition parties reached an agreement. Initially, the first meeting scheduled for the 29th, which was to include ministers from the Ministry of Economy and Finance, Ministry of Land, Infrastructure and Transport, and Ministry of Justice, was postponed as the ministers notified their absence. Instead, the special committee meeting, originally planned as the second meeting with participation from the Ministry of Health and Welfare, Ministry of Employment and Labor, and Ministry of Gender Equality and Family ministers, was held first on this day.