Publications

The Child Benefit: Its Usage and Improvement Options

제목
The Child Benefit: Its Usage and Improvement Options
저자

Lee, So-Young ; Yi, Jihye

발행연도
2024-06-10
발행기관
Korea Institute for Health and Social Affairs
인용정보
Research in Brief, vol. 122, pp. 1 - 7
초록
Implemented in September 2018 pursuant to the Child Benefits Act, the Child Benefit was initially paid to families in the bottom 90 percent of the countable-income distribution for children under 6 years of age. The Child Benefit was made universal in January 2019 and extended further in January 2022 to cover children up to 7 years old. Survey findings suggest that families primarily allocate the child benefits they receive toward expenses such as food and snacks, followed by purchases of baby-and-child items, savings, insurance, investment, and stocks for the child, as well as fees for private early education. Recipients gave the Child Benefit an overall satisfaction score of 5.7 on a 10-point scale, slightly above the midpoint. In addition, over 50 percent of respondents reported that the Child Benefit had a positive influence on their decision to have children. For the Child Benefit to better serve as a means of promoting the fundamental rights of children and as an effective response to low fertility situations, it should be made available to children over a wider age range and paid in increased amounts.
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