All Children Aged 0 to 8 Eligible Regardless of Birth Order
Monthly Payment of 100,000 Won
Less Burden for Parents, Boost for Local Businesses
Buyeo County in South Chungcheong Province is fully implementing the "Childbirth and Childcare Support Fund" system, targeting both overcoming low birth rates and revitalizing the local economy.
The county is attracting attention as an innovative model that reduces the childcare burden on parents and creates a virtuous cycle of local consumption by providing up to 10 million won to every child, regardless of birth order, through the local currency "Goodtrae Pay."
The county announced on October 10 that applications for the "Childbirth and Childcare Support Fund" will be accepted starting October 13.
The support is available to all children aged 0 to 8 who are registered residents of the county.
Immediately after birth, a lump sum of 500,000 won is provided, followed by 100,000 won per month for a total of 95 months, allowing each child to receive up to 10 million won.
The county has abolished the previous tiered support based on birth order (500,000 won for the first child, 2 million won for the second, and 5 million won for the third), and has switched to a system that provides equal benefits to all children.
In particular, since the support is provided through the local currency "Goodtrae Pay," it is evaluated as the "Buyeo-style mutual prosperity welfare model" that both eases the childcare cost burden for families and stimulates local commercial consumption.
Applications can be submitted at any time after birth registration by visiting the administrative welfare center in the child's town or township of residence.
To prevent confusion during the initial implementation of the system, the county plans to apply the previous childbirth incentive standards concurrently for one year as a grace period for pregnant women and those expecting childbirth.
County Governor Park Junghyun stated, "The Childbirth and Childcare Support Fund is a warm policy promised by Buyeo County for a happy future for both children and parents," adding, "We will ensure that support through Goodtrae Pay leads to greater vitality in the local economy."
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