How much is enough to raise a child in South Korea?

Korea Herald

a day ago

We asked 6 young parents about realistic, necessary costs of parenthood
South Korea's dwindling birth rate has become something of a global curiosity and a national crisis, making frequent headlines. Yet behind the statistics lies a quieter, more personal calculus — one that plays out in the homes of young adults weighing whether to have a child.
More often than not, the key factor is cost. So how much do young parents — or would-be parents — believe it takes to raise a child in South Korea today? And what feels realistic, or essential?
To find out, we spoke with six parents in their 30s living in Seoul and surrounding areas. Here's what they had to say.
'Need more to be a better mother, daughter'
Cho Min-jung, a mother of two daughters, ages 2 and 4, living in Gyeonggi Province, wishes she could spend around 3 million won ($2,200) per child monthly.
'If I had more money, I think I'd travel more with my kids. For those once-in-a-lifetime experiences, I'd probably make the decision more easily,' she said.
For now, she is grateful for the simpler joys.
'They're happy just running around Yuldong Park,' she said. 'But they'll grow up, and things will change. They can't spend forever just running around, blowing dandelions.'
Cho also hopes to give more back to her own mother, who currently lives with her and looks after the children while Cho works.
She pays her mother 1 million won a month for the help, which she said is far less than the 2 million won a babysitter would typically charge for just one child.
'If I had more money, I'd pay my mom more,' she said. 'I'm really a bad daughter.'
Lee Eun-ji, a mother in Seoul raising a 3-year-old girl, said the ideal amount to spend on raising a child would be one parent's salary. For her, that's about 4 million won a month.
'Every meaningful childhood experience comes with a cost,' she said.
She recalled feeling guilty when she learned that other parents were able to enroll their children in Montessori programs, which focus on self-directed learning and hands-on activities.
'I wanted that kind of exposure for my child, but it costs 500,000 won for just 12 classes. It was too much,' she said.
Instead, she began taking her daughter on weekend outings. But even those are not cheap.
'A trip to Lotte World (amusement park in Seoul) followed by dinner can easily cost more than 100,000 in a single day,' she said.
'Child's needs change, but cost don't shrink'
'If I were to provide everything I want for my child, I'd need about 5 million won a month,' said Park Na-hyun, the mother of a 4-year-old son, living in Seoul.
She explained that as children grow, the types of expenses change, but the financial burden remains constant.
For example, when her son was an infant, Park's husband worked in a city far from Seoul during the week, leaving her to manage child care on her own.
To cope, the couple hired a live-in babysitter from Monday to Thursday, which cost nearly 4 million won per month.
Now that their child is older, the spending has shifted.
'Now, we don't have a babysitter since my mother-in-law is helping take care of him. Clothing and toys come to just under 1 million won a month. Piano and swimming lessons add another 350,000 to 400,000,' she said. 'And I feel like the financial pressure is only going to grow from here.'
Park plans to enroll her son in an English immersive preschool that charges 2.5 million won a month. Once he starts kindergarten, she also plans to hire a babysitter for after-school care, since classes usually end before she finishes work.
'Really, the more, the better'
Asked about the costs of raising his 3-year-old son, Choi Jun-seo did not hesitate. He began itemizing what he considered to be the ideal monthly budget.
'The babysitter costs 1.8 million won a month. For clothing, it would be nice to have about 200,000 won. Food comes to around 500,000. Toys and education are about 250,000. And for experiences like kids' cafes or shows? Maybe another 250,000,' he said.
Altogether, his estimate totaled approximately 3 million won per month.
'It would also be good to have an extra 300,000 set aside, for insurance or maybe a pension plan for my kid,' he added. 'Really, the more, the better.'
'Manageable for now, but worried about what's ahead'
For Kim, the father of an 8-month-old baby, the cost of parenting feels manageable for now.
'I don't need much,' he said. 'Right after the birth, we spent a lot on baby supplies, but these days we probably spend around 1 million won a month.'
That amount covers everything his child currently needs, including formula, baby food, diapers and other basic essentials. But Kim is already looking ahead and worrying.
'I think the real financial burden will start around age 5, when my son begins English-language preschool,' he said. "An extra 2 to 3 million won would be needed."
Even so, Kim plans to send his son to one.
'I used to be against the idea,' he said. But after spending time with other moms and dads, he changed his mind on the notion that everyone else seems to be planning to send their kids to English-language preschool before elementary school.
'I mean, I don't expect my kid to be at the top of the class, but I don't want him to be at the bottom either. I worry all the other kids will already speak English, and mine won't. I'm afraid he'll fall behind.'
Han, an elementary school teacher and the mother of a 6-year-old son, describes herself as a relatively frugal parent.
'It's hard to pinpoint the ideal amount to spend,' she said. 'You could spend endlessly, but you can also spend moderately and still be fine. I'd say around 2 million won.'
Her son attends a private kindergarten that costs 400,000 won a month. He also takes piano lessons twice a week and art lessons once a week. These academies each cost about 130,000 to 150,000 won a month.
Han doesn't feel guilty about not doing more, but she understands why some parents might.
'I get it,' she said. 'It feels like most moms are doing so much for their kids, and if you're not, you feel like you're in the minority. So it's natural to compare.'
For now, the financial strain feels manageable.
'I really want to say that it's not overwhelming,' she added. 'I'm pregnant with my second child right now, which I think proves the point.'