Picture for illustrative purposes only. ARCHIVE

The Saha-gu district in Busan, South Korea, has introduced a groundbreaking initiative offering single people cash incentives to date or marry a local. In a pilot project that will begin in October, the district will host a matchmaking event to help singles form relationships, with significant financial incentives for couples that proceed to marriage and start families. The project will select eligible singles born between 1981 and 2001 who either live or work in the district. Applicants will be interviewed and evaluated by the district office. The program offers cash subsidies totaling up to 71 million won (approximately $54,405) for couples who successfully progress through dating and marriage milestones. Couples who meet through the district-organized matchmaking event will receive 500,000 won ($360) each. Additional funds will be granted as relationships advance, including 1 million won ($766) if the couple introduces their families in preparation for marriage. If they marry, the district will provide a substantial 20 million won ($15,325) in celebratory funds. To further support newlyweds, Saha-gu offers housing assistance, either through a 30 million won ($22,988) housing deposit or 800,000 won ($613) per month in rent subsidies for up to five years. These financial measures are part of a broader strategy to combat South Korea’s declining fertility rate, which reached a record low of 0.72 in 2023. The district is also planning to expand the program to include foreign nationals residing or working in Saha-gu. With South Korea facing the world’s lowest fertility rate and a growing concern over its aging population, initiatives like Saha-gu’s are becoming increasingly crucial. The country’s president, Yoon Suk Yeol, has termed the declining birthrate a “national emergency” and has proposed forming a Ministry of Low Birth Rate Counter-Planning to address the issue. ICA/Expat Media
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