South Korea has introduced a financial incentive for its citizens to date or get married to boost the birth rate in the nation. The population of the nation is declining due to the lowest birth rate.
For dating, South Korea pays citizens 35,000 US dollars (more than 20 million FCFA). For those who decide to marry, they will receive up to 64,000 US dollars (about 40 million FCFA).
A new initiative in Busan’s Saha District provides locals up to 38,000 US dollars for courting. With the nation’s fertility rate at a record low of 0.72 children per woman, this project is part of a larger attempt to counteract the country’s declining population.
Through a range of social events intended to unite like-minded people, the program seeks to both create connections and make family life more feasible and financially sustainable.
This initiative is part of a larger plan to encourage young people in South Korea to get married and raise families to address the nation’s demographic crisis and increase the population.
“This project is aimed at overcoming the population cliff crisis caused by the decline in birth rates by forming a multicultural local community in the future,” Saha District head Lee Gap-jun told the media. “With the decline in local and overall population becoming more evident, there is a strong determination to push forward with this project.”
According to media reports.
Couples who participate in the program will receive $604 for matching, $1,200 if their families get together to prepare for marriage, roughly $24,000 if they choose to tie the knot, $36,000 towards a house, or $960 in rent per month for five years.
