South Korea is reportedly offering incentives to its citizens to have more babies. The reason being the fertility rate there is of just 1.25 children per woman. As one of the important factors that bring about success in the country is maintain the well-being of the citizens and one of the best ways to do so is a robust replacement fertility rate.
According to Koreaboo, "Replacement fertility is defined as the rate at which the total number of births keeps the population constant and is usually set at 2.1 children /woman."
However, reportedly due to various kinds of cultural and economic factors somehow only about half of the world's countries reach the replacement fertility targets. Countries that reach the targets employ other strategies to encourage more procreation.
As South Korea's fertility rate is way below the ideal rate, government have taken up this strategy and promised to offer a number of incentives only to reach the target.
Koreaboo reported that parents with more than 1 child are being offered cash incentives. Also, every month's third Wednesday has been designated as "family day" and the offices of South Korea shut their lights off at 7 PM on that day.
This is not only limited to South Korea, there are nine other countries who want their citizens to have more babies and it include- Singapore, India, Italy, Hong Kong, Spain, Romania, Japan, Russia, and Denmark.
