"I Discovered the 'Parental Allowance' After Raising a Child... 1.5 Million Won a Month Until Age 13 Is Appropriate"

"Falls Short of Minimum Wage"
"Helps Reduce Childcare Costs... Limited Impact on Birth Decisions"

Guardians raising children aged 0 to 1 responded that the appropriate amount for the government's 'parental allowance' is around 1.5 million won per month, and that the suitable payment period would be until the child reaches an average age of 13.

According to the survey results, guardians responded that the appropriate amount for the 'parental allowance' is around 1.5 million won per month, and the suitable payment period is on average until the age of 13. Getty Images

According to a report released on the 11th by the Korea Institute for Health and Social Affairs, commissioned by the Ministry of Health and Welfare, titled "Evaluation of the Parental Allowance and First Meeting Voucher, and Measures to Enhance Public Perception," a survey of 2,000 guardians who received both the First Meeting Voucher and parental allowance in 2023 confirmed these views.

The parental allowance is a cash benefit provided monthly by the government to families who directly care for infants aged 0 to 1. As of 2023, 1 million won per month is paid for children aged 0, and 500,000 won per month for children aged 1. This welfare policy was introduced to reduce the burden of childrearing on parents and to minimize gaps in childcare.

However, respondents considered the appropriate allowance amount to be 1,525,400 won per month for children aged 0 and 1,457,400 won per month for children aged 1, indicating that a significant increase from the current levels is needed. These figures are similar to the actual average monthly cost of raising a child, which is 1,437,900 won for age 0 and 1,459,300 won for age 1.

Newborns are lying in beds in the neonatal unit of Ain Hospital in Michuhol District, Incheon.

In terms of satisfaction with each aspect of the allowance, the 'application method' received the highest rating at 4.07 points, while the 'amount of support' received the lowest at 2.86 points. When asked about ways to improve childrearing support policies, 'increasing the amount of support' was cited most frequently at 23.8%, followed by improving the payment method (16.4%) and improving the childcare environment (12.2%).

In addition, when asked about the appropriate payment period for government support for childrearing, respondents on average answered that it would be desirable until the child reaches 13.49 years of age.

While the parental allowance was evaluated as helpful in alleviating the burden of childrearing expenses, it did not have a significant impact on decisions to have additional children. The effect on reducing childcare costs was rated highest at 4.03 points out of 5, but its impact on birth decisions was relatively low at 2.86 points.

Respondents commented, "I found out about this allowance after having and raising a child," but also noted, "Since the allowance is less than the minimum wage, it does not affect the decision to have children."

This survey was conducted online from October 7 to 16 last year, targeting 1,000 guardians each of children born in 2022 and 2023.