S.Korea introduces new policies to tackle low birth rate

Seoul has decided to pour 77 trillion won (65.6 billion U.S. dollars) into its policies aimed at tackling the country's low birth rate and aging population for the 2011-2015 period, up a whopping 81.8 percent from the amount spent for the previous policies between 2006 and 2010.

While the previous policies on a low birth rate focused on providing low-income families with support for child care expenses, the gist of the new policies is to expand support for dual-earner couples.

The new policies will allow working women to be paid up to one million won per month during parental leave, compared with the current parental leave payment of 500,000 won. Parental leave, which has been granted to those with the child under the age of six, will see an extension of the applicable age to below eight.

Moreover, working women opting not to take parental leave will be able to adjust the time they begin and end work, or to choose flexible work schedules.

The new policies dealing with an aging society will emphasize securing jobs for the elderly population.

South Korea has strived to tackle a record-low birth rate coupled with a rapidly aging population. The country's birth rate was 1.15 in 2009, the lowest since 1.08 in 2005, according to Statistics Korea. Some 445,000 babies were born last year, 4.4 percent down from 466,000 in 2008, it said.

Source: Xinhua