Health Ministry's 2027 Budget Set at KRW 152.4 Trillion, Including Child Allowance Overhaul — Up 11% From This Year

The Ministry of Health and Welfare's budget for 2027 has been set at 148.7697 trillion won, representing an 8.2% increase from this year.

Including budgets separately allocated to the government's Future Response Fund for programs such as the Basic Child Allowance and Childcare Support Fund, the total reaches 152.4328 trillion won, marking a 10.9% increase compared to this year.

A detailed breakdown of the Ministry of Health and Welfare's budget, which was approved at the Cabinet meeting on the 1st, shows that the social welfare sector accounts for 86.2%, or 128.2737 trillion won, of the 148.7697 trillion won total.

The health sector accounts for 3.8%, amounting to 20.4960 trillion won.
Starting next year, the childbirth and childcare allowance system will change.

The existing First Meeting Voucher and Parental Allowance will be integrated into the Childcare Support Fund, while the existing Child Allowance will be integrated into the Basic Child Allowance, with expanded scales.

Next year's budget for the Childcare Support Fund, allocated through the Future Response Fund, is 429.6 billion won, and the Basic Child Allowance budget is 183.5 billion won.

The Childcare Support Fund will be paid in cash in four installments per year.

The current Child Allowance of 100,000 to 130,000 won per month will be expanded into a Basic Child Allowance of 200,000 won per month.

The reorganized Childcare Support Fund and Child Allowance will apply to children born from July 1 of next year, while children born prior to that date are planned to receive payments under the existing system.
※ Please note: This article was translated by AI and may contain errors.