- Every newborn in Incheon to get KRW 100 million until the age of 18 -

- City urges the Korean government for a major shift in its policies -

On December 18, Incheon Metropolitan City Mayor Yoo Jeong-bok announced the City’s new “100 million + i Dream” policy offering KRW 100 million to every newborn child in Inchon. 

100 million + i Dream is the first policy of its kind in the country to provide uninterrupted support at all stages of a child’s upbringing from the prenatal stage to age 18. The key is to cover blind spots in the national policy and provide support where needed. 

  <Incheon Mayor Yoo Jeong-bok announces Incheon’s new “100 million + i Dream” policy at a press conference held in the briefing room of Incheon City Hall on December 18.>

<Press conference announcing Incheon’s new “100 million + i Dream” policy>

In addition to the KRW 72 million currently available for each child (including parental benefits, child allowance, “first meeting” vouchers, and elementary, middle, and high school education subsidies), the City is now offering an extra KRW 28 million in “Angel Support” (KRW 10.4 million), “i Dream Allowance,” and transportation expenses for pregnant women. Depending on certain conditions (e.g. individual eligibility requirements and income), parents can receive up to KRW 340 million from the City.

Given that Incheon has already secured the budget for its new policy next year, it plans to complete the required administrative processes (e.g. coordinating with other social security systems) to activate the program on the earliest possible date. 

Angel Support is a project that provides a total of KRW 8.4 million (KRW 1.2 million per year) in addition to the KRW 2 million in first meeting vouchers that celebrate the birth of a child through ages 1 to 7. It applies to children born in 2023 who turn a year old next year.

Also, for the first time in the country, Incheon is offering what it calls the “i Dream Allowance,” which provides cash support as a child goes through school from 8 to 18. The City plans to provide a total of KRW 19.8 million in support (KRW 150,000 per month to children born in 2024 starting the year they turn 8). Meanwhile, for children born in 2023 and earlier, there will be a separate program to support them as they begin school. This program is to reduce the financial burden of childcare once the child allowance (KRW 100,000 per month) available for children ages 0 to 7 ends.

* Children born in 2016~2019: KRW 50,000 per month (total KRW 6.6 million) * From 2024

* Children born in 2020~2023: KRW 100,000 per month (total KRW 13.2 million) * From 2028

* Children born in 2024~: KRW 150,000 per month (total KRW 19.8 million) * From 2032 

Moreover, to keep babies safe and give pregnant women better mobility, Incheon has plans to create a new “transportation subsidy (taxi fares, fuel costs for driving) for pregnant women” of KRW 500,000 and help with the child-bearing process. 

<100 million+i dream>

* (Angel (KRW 10.4 million) Support) Total KRW 10.4 million (including KRW 2 million in First Meeting voucher); KRW 1.2 million per year for children born in 2023 and later (ages 1~7)

* (i Dream Allowance) Total KRW 19.80 million; KRW 1.8 million per year for children between ages 8~18 (KRW 500,000/month), allowance raised in stages 

* (Transportation expenses for pregnant women) KRW 500,000 per instance (fuel costs, parking fees, taxi fares) 

Mayor Yoo Jeong-bok announced the 100 million+i Dream policy and also called for a major change in the central government's birth policy. The five policy measures proposed by Mayor Yoo to the government are: ▲Appoint a “Head of Demographics” and create a “Demographics Policy Office” with the authority to plan and execute its own budget on improving the birth rate; ▲Transition to an integrated/coordinated birth support system; ▲Establish of a “childbirth grant” system and a special fund to overcome low birth rates using, in part, local education financial grants; ▲Establish innovative housing policies such as a national housing guarantee system and longer-term mortgage loans ▲ Prepare a comprehensive national plan for accepting immigrants and reverse-immigration policies for overseas Koreans. 

The Mayor said, “By laying the groundwork early, we want our policies to inspire national policies aimed at improving our birth rate. That way, we hope our country can establish a more comprehensive policy on the national level to combat issues created by a declining birth rate.” He added, “Once the central government shifts its paradigm toward childbirth and child support, Incheon will lead the way in bringing the birth rate up to healthy levels.”