The government is reviewing a plan to allocate 3.6253 trillion won from the Future Response Fund to expand and reform child allowance and birth incentive payments. However, the National Assembly's Health and Welfare Committee has raised concerns about using the Future Response Fund for projects that require stable financial support, leaving the actual allocation uncertain.
According to political sources on November 10, the government reported to the National Assembly its plan to allocate 2.9272 trillion won for a new 'Basic Child Allowance' that would increase the existing child allowance by 2 to 3 times, and 698.1 billion won for a new 'Child Matching Support Fund' that integrates the first meeting voucher and parental benefits.
Specifically, the Basic Child Allowance would raise the monthly payment to 200,000 won (300,000 won in local areas) for children up to 12 years old, with an additional 300,000 won per month for home care for families with children aged 0 to 1. The Child Matching Support Fund would provide 10 million won for the first child, 12 million won for the second, and 15 million won for the third and subsequent children, with higher amounts in local areas: 15 million won for the first child, 17 million won for the second, and 20 million won for the third and beyond.
However, the National Assembly is viewing the allocation from the Future Response Fund negatively. Nam In-soon, a Democratic Party lawmaker and vice chair of the National Assembly, stated during the committee meeting, "Child allowances and birth support payments must receive stable financial input every year," and emphasized the need to reconsider allocating these budgets from the Future Response Fund.
Kim Tae-ho, a lawmaker from the People Power Party, also remarked, "It is neither sustainable nor convincing to cover annual childcare costs with a Future Response Fund that fluctuates with economic conditions. Support for child-rearing is a promise related to family life planning, and we must prepare to take full responsibility for it."
Given the bipartisan negative sentiment regarding the allocation of birth and childcare support from the Future Response Fund rather than the general account, there is a possibility that this issue will be adjusted in future discussions. The decision on whether to change to the general account and the final budget size will be key points of contention.
Meanwhile, the related budget will be finalized through reviews by the Health and Welfare Committee and the Special Committee on Budget and Accounts, followed by a vote in the plenary session.
According to political sources on November 10, the government reported to the National Assembly its plan to allocate 2.9272 trillion won for a new 'Basic Child Allowance' that would increase the existing child allowance by 2 to 3 times, and 698.1 billion won for a new 'Child Matching Support Fund' that integrates the first meeting voucher and parental benefits.
Specifically, the Basic Child Allowance would raise the monthly payment to 200,000 won (300,000 won in local areas) for children up to 12 years old, with an additional 300,000 won per month for home care for families with children aged 0 to 1. The Child Matching Support Fund would provide 10 million won for the first child, 12 million won for the second, and 15 million won for the third and subsequent children, with higher amounts in local areas: 15 million won for the first child, 17 million won for the second, and 20 million won for the third and beyond.
However, the National Assembly is viewing the allocation from the Future Response Fund negatively. Nam In-soon, a Democratic Party lawmaker and vice chair of the National Assembly, stated during the committee meeting, "Child allowances and birth support payments must receive stable financial input every year," and emphasized the need to reconsider allocating these budgets from the Future Response Fund.
Kim Tae-ho, a lawmaker from the People Power Party, also remarked, "It is neither sustainable nor convincing to cover annual childcare costs with a Future Response Fund that fluctuates with economic conditions. Support for child-rearing is a promise related to family life planning, and we must prepare to take full responsibility for it."
Given the bipartisan negative sentiment regarding the allocation of birth and childcare support from the Future Response Fund rather than the general account, there is a possibility that this issue will be adjusted in future discussions. The decision on whether to change to the general account and the final budget size will be key points of contention.
Meanwhile, the related budget will be finalized through reviews by the Health and Welfare Committee and the Special Committee on Budget and Accounts, followed by a vote in the plenary session.
* This article has been translated by AI.
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