S Korean govt to give extra allowance to all households with children: Minister
SEOUL, (MILLAT ONLINE)::The South Korean Health and Welfare Minister Park Neung-hoo Thursday said that the government was pushing a policy to provide an extra monthly allowance of 100,000 won (US$93) to every household with a child up to 5 years old regardless of the parents’ income level.
According to Yonhap news, the plan is different from a bipartisan agreement from last month, which stipulates paying the subsidies to 90 percent of families starting in July, excluding the top 10 percent income bracket. The agreement would exclude some 25,000 children out of 2.53 million.
“The government will once again try to provide child care subsidies to everyone, as the law has not yet been made,” Health and Welfare Minister Park Neung-hoo told reporters.
At present, families with a child up to 7 years old can receive a monthly subsidy between 100,000 and 200,000 won. The planned allowance will be offered in addition to existing subsidies.
“The goal is to pass a law by February,” said Park, expressing hope that the parties will support the government’s plan to solve a budget problem. For 2018, 700.96 billion won was earmarked for child care allowance, indicating the government will need extra funds in order to carry out the plan.