Seoul, South Korea – the capital of the nation with the world’s lowest fertility rate – launched a survey on Wednesday asking residents if they approved of an idea to pay 100 million won in cash to parents for every baby their family welcomes., will ask respondents if knowing they would receive a major cash incentive would make them reconsider their personal family planning and if they believe that the program expense, estimated to be around 22 trillion won , is reasonable.
The number of newborns in South Korea born in 2023 was almost eight percent lower than in the year before. In response to the low birth rate, the government of conservative President Yoon Suk-yeol has prioritized top-down programs incentivizing the building of families. Local governments, such as Seoul’s, have put forwarded their innovative plans to boost the child population in the near future. Even Yoon administration officials have expressed a bleak outlook on the situation, however. Finance Minister Choi Sang-mok compared South korea to the Titanic in remarks in December.
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