Seoul city to invest 6.7 tln won over 2 yrs to boost birth rate

The Seoul city government will invest 6.7 trillion won (US$4.8 billion) over the next two years to provide housing, household subsidies and other support aimed at boosting the city's birth rate, officials said Tuesday. The investment plan was announced as part of the city's broader initiative to encourage births, as the capital's birth rate shows signs of rebounding. The number of newborns in Seoul increased by 6.6 percent in the April-August period compared with the same period last year, marking the first time births have risen for five consecutive months on a year-on-year basis in 12 years. The new investment plan for 2025-2026 amounts to nearly double the 3.6 trillion won the city government spent in the past two years, according to the city officials. Under the plan, the city will provide 5,000 long-term rental homes for newlywed couples, including 1,000 this year, to encourage them to have babies. Parents of newborns who do not own homes will receive a monthly housing subsidy of 300,000 won, totali ng 7.2 million won over two years, with 5,520 households eligible for the benefits. A separate subsidy of up to 1 million won will also be provided to newlywed couples to help finance their wedding and home furnishing costs, benefiting more than 20,000 households that register their marriage after Jan. 1 next year, the officials said. Source: Yonhap News Agency