[Anchor]
It is time for our Thursday segment, Friendly Economy. Reporter Han Jiyeon is here with us. Han, I understand that the monthly payout for unemployment benefits is set to decrease starting next year.
[Reporter]
As the calculation standard for unemployment benefits changes from 7 days a week to 6 days, the monthly payout amount will decrease while the duration of receiving them will increase.
Those who are currently receiving or expect to receive unemployment benefits should take note of how the calculation method will change.
Until now, calculations were based on 7 days a week.
Moving forward, calculations will be based on 6 days a week, excluding unpaid holidays.
For example, in cases where someone receives unemployment benefits at the minimum payout rate for 150 days, they have previously received 1.98 million won per month for 5 months, totaling 9.9 million won.
Going forward, the monthly payout will drop to around 1.76 million won, while the payment period, which was 5 months, will increase to about 6 months.
For recipients with the maximum duration of 270 days, the payment period will increase from 9 months to 10 and a half months.
Not only the lower limit, but the upper limit will also change.
On a monthly basis, it will drop from around 2.04 million won to around 1.81 million won.
Instead, even in this case, the total payout amount remains the same while the receiving period becomes longer.
[Anchor]
There are times when higher unemployment benefits dampen the willingness to work, right?
[Reporter]
This is because unemployment benefits have continued to be calculated based on 7 days, leading to a reversal phenomenon where unemployment benefits exceed the minimum wage.
When the unemployment benefit system was first introduced in 1995, working 6 days a week was common.
This was because wages were paid even for the single rest day when working 6 days.
Thus, benefits were paid for 7 days.
Even after the 5-day workweek took root in 2004, the calculation method remained unchanged.
As a result, a 5-day worker earning the minimum wage has an after-tax monthly salary of 1.93 million won, whereas the lower limit for unemployment benefits stands at 1.98 million won, making the benefit 50,000 won higher.
To rectify this, it has been decided to exclude unpaid holidays from the calculation.
Financial issues also played a role.
Until now, maternity protection expenditures, such as parental leave benefits, were also drawn from the unemployment benefit account.
As these expenditures more than doubled from 2.1 trillion won in 2022 to 4.3 trillion won last year, the entire unemployment benefit account recorded a deficit of 1.8 trillion won last year.
To make up for this funding shortfall, the unemployment benefit insurance premium rate, paid jointly by labor and management, will be raised from 1.8% to 2%.
The individual employee burden rate will increase from 0.9% to 1%.
For someone with a monthly salary of 3 million won, the annual insurance premium will increase by about 36,000 won.
This reform plan aims for implementation next year following legislative revisions.
[Anchor]
What is the next news item?
[Reporter]
This is a detail included in next year's budget proposal.
It is a product called the Our Child Independence Fund.
Parents and the government make joint deposits into a fund under the child's name, with the government supporting up to 1.2 million won annually depending on the income level.
The amount contributed by the government varies depending on household income.
This is categorized using what is called the median standard income, where for a four-member household next year, approximately 6.93 million won per month is right in the middle, or 100%.
From this, households at 50%, meaning those with a monthly income of less than 3.46 million won, will receive 1.2 million won per year from the government even if the parents do not contribute a single penny.
Households with incomes higher than that, between 50% and 100% of the median income up to 6.93 million won, will see the government add 1.0 million won if the parents contribute 500,000 won per year.
Households between 100% and 150% of the median income, exceeding 6.93 million won and up to 10.4 million won, will receive 1.0 million won in government support if the parents contribute 1.0 million won.
Once median income exceeds 150%, meaning over 10.4 million won, matching government support is not available.
Assuming that parents and the government combine to deposit 2 million won a year for 19 years and achieve an average annual return of 6%, calculations show that about 70 million won will be accumulated by the time the child becomes an adult.
In the case of low-income households where the government supports 1.2 million won annually for 19 years, assuming the same rate of return, the calculation yields about 43 million won accumulated.
However, the 6% return rate is merely an assumption, and actual accumulated funds may vary depending on fund management performance.
The intention is for the accumulated money to be used later for tuition, independence funds, or startup capital.
Based on the current government budget proposal, the target for matching support is children born on or after September 1, 2026.
The Financial Services Commission has allocated 146.5 billion won for this project.
Since it is still a budget proposal, it must undergo review by the National Assembly for final confirmation.
The product aims for release in the second half of next year.
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