Korean Presidential Candidates Clash on How to Raise the Birthrate

None of these ideas being proposed will do anything significant to raise the birthrate because they all simply involve throwing money at the problem:

Democratic Party presidential candidate Lee Jae-myung pose for a photograph with children during his campaign in South Gyeongsang on May 14. [KIM SEONG-RYONG]

The rival candidates, Kim and Lee, are seemingly on different paths regarding how to help couples conceive babies, strengthen child care and housing support and provide tax benefits for families with children. 
  
While Lee only stated his promise to strengthen medical services for couples struggling with infertility, Kim suggested more detailed plans: the state health insurance covering costs of freezing sperm and ova and state funding for fertility testing. 
  
Lee stressed “public” support in parenting services to establish a “society where everyone partakes in child care.” 
  
Instead of the current scheme where elementary schools autonomously decide the service period and curriculum, Lee plans to reinforce the central and local governments’ direct responsibility for after-school child care services. 
  
Kim kept his child care-related pledges brief. He promised to expand 24-hour and emergency care facilities and provide one-on-one care for babies and infants. When it comes to housing, Lee presented “public housing for newlyweds” as his key initiative. 
  
Public housing, provided by state authorities, offers leases for 30 to 50 years for low-income families. Currently, a two-person household can apply for public housing if their combined monthly earnings are 5.89 million won or below. 
  
However, as of Tuesday, Lee has not specified how many units will be supplied, nor potential locations. 
  
Kim also promised to supply 100,000 housing units annually, which makes the residents receive state subsidies for their housing expenses. Newlyweds would qualify for three years of support. An addition of a single child will extend the benefit for three more years.

Joong Ang Ilbo

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To raise the birthrate Korea needs couples to marry earlier. Right now Korean women on average get married at 31.6 years of age. By the time women reach 40 they probably do not want to have children so this leaves effectively about 8 years to have kids. Then you throw in that many women now work and manage careers plus the high costs of raising kids that is why there is a low birthrate.

Besides reducing costs there needs to be a cultural change in South Korea for couples to marry earlier which would conflict with women pursuing careers early in life before marriage and having kids. As long as this remains the cultural norm Korea will continue to have a low birthrate.