As of 2022, women in Korea receive a payment of 2 million won ($1,510) after giving birth. The Yoon government made the decision to provide children under the age of one 700,000 won ($528) and those under the age of two 350,000 won ($264) a month in 2023.
Families receive 700,000 won ($528) in cash per month for infants up to the age of one and 350,000 won ($264) per month for infants under two, with the payments set to rise to 1 million won ($755) and 500,000 won ($377), respectively, in 2024.
The $770-a-month baby
Another hike in 2024 will bring it up to 1 million won, or roughly $770 per month. The average monthly salary in South Korea was about $3,400 as of December 2022. This move will further increase the huge investment the country has already made in trying to raise its birth rate.
The Cost of Having a Baby in South Korea
Giving birth in South Korea without health insurance is possible, but it will be costly. If using the NHI, the general cost for having a baby in South Korea is as follows: Pre-natal tests and treatments: 30—80,000 KRW (25—70 USD) Vaginal delivery: 7,100,000 KRW (6,000 USD)
South Korea is the most expensive country in the world to raise a child till the age of 18, according to a recent study—the findings of which provide a clear explanation for the nation's falling fertility rate and looming population crisis.
Top 5 Cheapest Cities to Raise a Child
Budapest is officially the least expensive city to raise a child, with the average monthly cost per child working out at $1,198.
The annual study by the Beijing-based YuWa Population Research Institute ranked South Korea top of the list of nations for raising a child, with the cost coming to 7.79 times the gross domestic product (GDP) per capita, Chosun Ilbo, a South Korean newspaper, reported.
But perhaps the most impressive part of giving birth in Norway is that it's 100% free, from the first check up to the delivery, due to universal health care in the country.
Indonesia and the Philippines both have relatively low costs. In Indonesia, the average cost of delivery is $1,837 and in the Philippines, it's $2,122, according to Pacific Cross International.
On average, a vaginal delivery in the United States costs about $13,811 before insurance kicks in — making the US the second-most expensive country in the world to have a baby in, after Japan. To compare, here's the average cost of a vaginal delivery in several other countries: Japan: $61,810. Singapore: $8,045.
Administration. The organizational structure of the two-child policy was housed under different governmental units since its conception in the 1960s.
In 2021, there were about 1.51 million single-parent households in South Korea. Single-parent households accounted for about seven percent of total households in South Korea that year.
In the table below, countries are ranked from the highest to lowest average births per woman in 2020. The African country of Niger currently has the highest fertility rate, at 6.9, which means on average, a woman in Niger will have seven children in her lifetime.
As of 2021, Korea's gender wage gap stood at 31.1 percent according to OECD data. For every $1,000 men receive in salary, their female peers get only $689.
The fertility rate in South Korea, which has the world's lowest rate, hit 0.78 in February. Yun-Jeong Kim grew up imagining what her future family would look like — married with several kids, a nice home and a dog.
Surrogacy in Korea is not readily accepted by the general population. Negative hype by the Korean media is one of the primary reasons surrogacy becomes an opprobrious practice for Korean people. Presently, Korean law does not ban, does not allow, or set any morals for surrogate mothers.
Cost of going private (with health insurance): $3000-$5000
The costs for your delivery in a private hospital, according to HICA, could include: Accommodation: $700-850 daily (expect to stay 2-5 days)
UNICEF named the countries with the greatest chance of newborn survival as Japan, Iceland, Finland, Singapore, Estonia, Slovenia, Cyprus, Belarus, Luxembourg, Norway and South Korea.
Currently in Australia, around 97% of births occur in hospital. The remainder are either born before the mother can arrive at hospital, or they are home births with a midwife, or freebirths, where the birth is not attended by any health professional.
In Australia, pregnancy care in a public hospital or birth centre costs very little because it is mostly covered by Medicare, which covers Australian citizens and some visitors to Australia. In the private system, you will need to pay for your care or take out private health insurance.
You will give birth either in a labour ward or at a birthing centre. Care during the pregnancy and birth is mostly free. The first step is to see your doctor who will discuss the options at different hospitals in your area and give you a referral.