Korea’s public spending on family benefits in 2009 amounted to 1.01 percent of its gross domestic product, the lowest among 34 OECD countries according to OECD Family Database.
The statistics cover financial support for families and children in cash, service and tax benefits. The average for OECD members stood at 2.61 percent.
Korea recorded 0.04 percent in cash benefits, 0.77 percent in service benefits and 0.20 percent in tax benefits. The OECD average for each criterion was 1.41 percent, 0.94 percent and 0.28 percent.
Korea’s low public spending is especially marked in cash benefits. Korea’s spending on cash benefits is a mere one-thirty-fifth of the OECD average. The figure is one-third of the runner-up, the United States at 0.11 percent of GDP.
Korea’s daycare programs and child allowances have been greatly expanded since 2010.
By Lee Sang-ju (email@example.com