A South Korean city is paying people $100 grand to have babies

Jan 6th

The South Korean city of Changwon is offering an interesting way to make some cash:

Procreate!

That's right, if you live in Changwon, the government will pay you money – lots of money, actually – to have children. A new policy would pay 100 million won, or around $92,000, to any married couple that wants it as a loan.

If the couple has one kid, the interest on the loan is forgiven. For two kids, the family gets 30% of the loan wiped out, and for three, the entire amount is forgiven.

South Korea has had a spiraling birth rate for years, with a fertility rate of 1.05 children per woman – well below the 2.1 needed to replace the population and keep things such as the workforce, pensions, and social services running.

The government has attempted to offer financial incentives before, but it seems South Koreans just aren't interested in having kids.

Last year was the first time, however, that the nation had more deaths than births, 307,764 to 275,815 respectively.

If only my wife and I would have moved to Changwon before having kids... 🤔


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