Seoul, August 8: South Korea has been grappling with a declining birth rate and a shrinking youth population for some time. In response, the government is now striving to ensure that the decision to marry and start a family does not become financially burdensome for young people. President Lee Jae-myung has announced plans to review policies that have led to young couples facing disadvantages in housing loans and welfare programs after registering their marriages. He made this statement on Saturday.
President Lee’s remarks come amid growing concerns that some young couples are avoiding or delaying marriage registration. This hesitation stems from fears that combining their incomes and assets post-marriage could reduce their eligibility for housing loans, government housing schemes, and social welfare benefits.
Lee expressed on the social media platform X that government policies should never discourage youth from marrying. He emphasized that the government will thoroughly review any potential inconveniences or disadvantages that young couples may face after marriage.
The President stated that it is the government’s responsibility to ensure that marriage does not become a burden but rather a hopeful new beginning for young people.
He also mentioned that the government will assess various proposed measures to address this issue, including simplifying eligibility criteria for special housing allocation schemes for newlyweds.
Earlier, in February, Lee had instructed senior officials at the presidential office to review government policies that may disadvantage married couples compared to their unmarried counterparts in housing loans and related schemes.
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