Ludicrous: South Korea to Spend $34 Billion Annually to Boost Fertility

August 23, 2016 • Daily Email Recap

Budget for birthrate program badly mishandled
Although the national government spent 151 trillion won ($134 billion) in the past decade to boost the low fertility rates and address the problem of Korea’s aging society, little changed since. In fact, the nation’s fertility rate has dropped from 1.25 births per woman to 1.24 births per woman. JoongAng Ilbo, with Rep. Na Kyung-won of the Saenuri Party, found out why.
Na, who chairs the National Assembly’s special committee on low fertility rates and population aging, along with her Assembly staff, found out that much of the 151 trillion won budget for the initiative was spent on programs irrelevant to either issue.
According to the investigation into 20 ministries and departments, projects such as attracting foreign students, boosting the export of small- to medium-sized companies or encouraging tourists to stay at temples during their visits, were included in the initiative.

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