Lee and Kim Advocate for Work-Family Balance but Silent on Corporate Participation Measures [Low Birthrate Pledges Overshadowed by Presidential Election]

Unlike the 22nd general election, where solving the low birthrate was put forward as the first pledge, this early 6·3 presidential election sees a lack of related discussions. The slogan of creating a society conducive to raising children remains, but from an effectiveness standpoint, it is criticized as regressing. In particular, there is criticism that there is a lack of consideration for funding plans and work-family balance.

■ Focus on financial support rather than implementation plans

According to the Low Birthrate and Aging Society Committee on the 27th, a survey conducted last year on 320 citizens showed that "work-family balance" (28.5%) was selected as the area that should be further strengthened in relation to low birthrate policies. To solve the low birthrate issue, there is a demand to create an environment where children can be raised without career interruptions.

Presidential candidates also identified low birthrate as the biggest crisis and included related policies in their top 10 pledges. However, the focus is on direct financial support.

Lee Jae-myung, the Democratic Party's presidential candidate, has major pledges to solve the low birthrate issue, including "expanding child allowance" and the phased introduction of the "Our Child Independence Fund." This policy, proposed by the Democratic Party since the last general election, aims to reduce the burden of child-rearing costs and help asset formation. The Our Child Independence Fund targets all children from 0 to 18 years old, with the government providing a monthly subsidy of 100,000 won, and parents or guardians contributing an amount of up to 100,000 won.

Kim Moon-soo, the People Power Party's presidential candidate, also proposed a similar "Our Child First Step Account" pledge. The plan is for all children aged 0-17 to save a certain amount monthly, with the government matching the amount, supporting asset formation of about 50 million won.

■ Need for detailed plans on funding and corporate participation

The problem is the method of securing funds. The National Assembly Budget Office estimates that the Democratic Party's pledge to expand child allowance would require an annual average of 5.78 trillion won. The People Power Party's asset formation pledge is expected to need an annual average of 7.1 trillion won. Considering last year's low birthrate budget was 48.2 trillion won, both pledges are by no means small amounts.

Both parties have shown commitment to care support, a core aspect of work-family balance. Specifically, candidate Lee plans to strengthen public childcare service support, cooperate with local governments for elementary care, expand support for after-school tuition, and enhance national responsibility for integrated early childhood education. The People Power Party proposes expanding private services, building a public-private integrated app, and offering tax benefits for personal expenses related to childcare.

However, there are no mandatory regulations for companies, which hold the key to work-family balance. The People Power Party proposed the "Half-Time Parenting System," which doubles the leave period if employees work half of their usual hours during parental leave, but did not suggest how to encourage corporate participation. Additionally, both parties remain silent on corporate incentives or penalties, such as activating childcare colleague allowances for small businesses or corporate tax reduction policies for family-friendly small businesses.

Experts advise that expanding care services, activating leave, and reducing working hours, rather than increasing cash payments, are more effective in solving the low birthrate issue. Song Da-young, a professor of social welfare at Incheon University, said, "There is a perception that companies are difficult for the state to directly manage, making it challenging to enforce systems related to work-family balance," adding, "Nevertheless, how much parental leave can actually be taken and what treatment is received after returning to work are important for solving the low birthrate issue, so changes should be driven through corporate disclosures."

stand@fnnews.com Seo Ji-yoon Reporter