South Korea is introducing a unique approach to combat its demographic decline by offering financial incentives to couples who get married.
In the Saha District of Busan, residents are being encouraged to date and marry with the promise of up to $38,000 in rewards. This initiative aims to address the country’s critically low birth rate, which has dropped to 0.72 children per woman.
The program is part of a broader strategy to reverse the country’s dwindling population. With the world’s lowest birth rate, South Korea is grappling with the potential consequences of a rapidly aging population and shrinking workforce.
The financial incentives are designed to encourage young people to form stable relationships and start families, ultimately contributing to a more sustainable demographic future.
By providing a significant financial reward, the Saha District hopes to motivate couples to take the next step and get married. This move reflects the government’s growing concern about the country’s demographic decline and its potential impact on the economy and society.
As the country struggles to find solutions to this pressing issue, innovative approaches like this one are being explored to encourage marriage and childbirth.