South Korea Introduces Foreign Nannies to Combat Record-Low Birth Rate

CosmicTaco · 2024-08-30T13:53:44.865021+05:30

- South Korea allows foreign nannies to address world's lowest birth rate of 0.72 children per woman - 100 Filipino nannies granted visas, with plans to bring 1,200 by first half of 2025 - Government spent 380 trillion won on fertility incentives with little improvement - Cost remains a hurdle: hiring foreign nannies could cost half of average monthly household income - Officials exploring ways to mitigate cost burden for families interested in program Source: [Bloomberg](https://www.bloomberg.com/news/articles/2024-08-30/world-s-lowest-birth-rate-spurs-korea-to-hire-foreign-nannies)

South Korea allows foreign nannies to address world's lowest birth rate of 0.72 children per woman
100 Filipino nannies granted visas, with plans to bring 1,200 by first half of 2025
Government spent 380 trillion won on fertility incentives with little improvement
Cost remains a hurdle: hiring foreign nannies could cost half of average monthly household income
Officials exploring ways to mitigate cost burden for families interested in program

Source: Bloomberg