Parents will receive a monthly allowance of 100,000 won (US$87) for each child under the age of six starting in September, the health ministry said Tuesday.
The revision will cover households of one child with a monthly income of 11.7 million won or less, households of two children with a monthly income of 14.36 million won or less and households of three children with a monthly income of 17.02 million won or less, according to the Ministry of Health and Welfare.
The revision will cover a total of 2.38 million children, 94 percent of the total 2.53 million children across the country, the ministry said.
The benefit will exclude youngsters from households in the top 10 percent income bracket, the ministry said.
The benefit is in line with President Moon Jae-in's childcare policy pledges. During the campaign, Moon stressed a greater government role in childcare with the aim of eventually tackling the country's chronically low birthrate.
-reprinted from Yonhap News