The South Korean government announced a set of measures on Tuesday to tackle the country's chronic low birth rate and an expected population decline.
The measures include providing a monthly bonus of 300-thousand won to families with children under 12 months starting in 2022 and the allowance will be gradually expanded to 500-thousand won by 2025.
The payments are separate from the government's existing monthly allowance of 100-thousand won for each child under the age of seven.
Couples expecting a baby will be given a two-million-won cash bonus starting in 2022, and the current 600-thousand-won state medical expense support for pregnant women will be increased to one million won.
Parents will be encouraged to go on parental leave with the government offering up to three million won in monthly allowances to each parent of children under 12 months going on a three-month leave.
The government also plans to expand benefits for families with multiple kids, which mostly apply to those with three or more children, to include those with two children.