The government said Friday that it will give women the right to ask for fewer work hours so they can better raise their children as part of South Korea's ongoing efforts to bolster the low
birthrate.
The 2011-2015 plan to encourage having children and deal with population aging aims to make it possible for women to maintain their jobs and take care of their family at the same time, the Ministry for Health, Welfare and Family Affairs said.
Under the blueprint that will be finalized after a public hearing next week, the government will make it mandatory for companies and employers to allow women who have children to work less, with the corresponding reduction in salaries compensated by childcare and maternity leave pay.
It added that maternity leave pay that is uniformly set at 500,000 won (US$430) per month will be changed to 40 percent of a person's pay, with the government temporarily lowering state medical insurance coverage premiums for women on leave.
The ministry said that to make up for the reduction in the workforce, companies will be encouraged to hire retired workers on a part-time basis, which will help senior citizens earn money.
In addition, the government will push companies to set up in-house childcare centers and will subsidize high school tuition for second children from 2011 onwards.
Other benefits to boost the birthrate include permitting soldiers whose wives give birth to be placed on reserve and to give preferential interest rates for loans taken out by families with multiple children.
The government, meanwhile, said that starting in January, elder farmers can draw pension by using their land as collateral as a means to supplement their income while the government will take steps to create a comprehensive database on retirees to help them easily find part-time work.