Seoul: The Seoul city government has unveiled plans to invest 6.7 trillion won (US$4.8 billion) over the next two years in a bid to enhance the city’s birth rate through housing, household subsidies, and other supportive measures, as disclosed by officials on Tuesday. This strategic investment is part of a larger initiative designed to encourage births, amidst signs of a potential rebound in the capital’s birth rate.
According to Yonhap News Agency, the number of newborns in Seoul has climbed by 6.6 percent from April to August compared to the same period last year. This marks the first instance in 12 years where births have risen for five consecutive months on a year-on-year basis. The proposed investment for 2025-2026 is nearly double the 3.6 trillion won spent by the city government in the previous two years, highlighting a substantial increase in resources dedicated to this cause.
The plan includes providing 5,000 long-term rental homes for newlywed couples, with 1,000 of these homes allocated for this
year, to encourage couples to start families. Additionally, parents of newborns who do not own homes will be eligible for a monthly housing subsidy of 300,000 won, which totals 7.2 million won over two years, impacting 5,520 households.
Furthermore, a separate subsidy of up to 1 million won will be offered to newlywed couples to help cover wedding and home furnishing expenses. This subsidy is expected to benefit over 20,000 households that register their marriage after January 1 next year, according to city officials.