This study appraises the household costs of raising children, and attempts to estimate the procreative propensity of Korea by analyzing the likelihood of raising one or more children according to the price theory.
The Urban Household Survey of 1973 compared the average monthly spending of households with one child each and households with no children. The cost of childcare for the was KRW 735,000 when the child was between the ages of 1 and 14, but rose to KRW 1.485 million when the child was between the ages of 14 and 20, and began to enter the secondary education system. In addition, the cost of childcare was also higher in Seoul than in other regions of Korea.
The average of these costs amounts to only eight percent of the average cost of childcare in major American cities. However, given the fact that the Korean national income per capita is only about six percent of its American counterpart, Koreans are spending considerably more on the care for, and education of, their children. Koreans, on average, spend 13.8 percent more than Americans on food for their children, and 16.9 percent less than Americans on other childcare items. This attests to the gap in the standard of living between Korea and the United States.
The majority of Korean households want to have at least three to four children. While the cost of raising three or more children is significantly greater than the cost of raising fewer than three children, there are also a wide range of variables that need to be taken into account, such as the household income, the employment rate, and the actual wage in the manufacturing sector, among others. The procreative propensity, in other words, can change in response to factors other than the desired number of children. We can increase the procreative propensity only by ensuring income stability and employment security for households.
한국의 육아비와 출산력(Childcare cost and procreative propensity in Korea)
|Series Title; No||연구보고서 / 제79-05권|
|Subject Country||South Korea(Asia and Pacific)|
|Subject||Social Development < Population|
|Holding||KDI; KDI School|