▲ President Yoon Suk Yeol delivers a speech at an event to celebrate women's leadership in southern Seoul on Nov. 1, 2023. (Pool photo) (Yonhap)

Yoon-childcare budget

Yoon vows to allocate gov't budget for child care services

SEOUL, Nov. 1 (Yonhap) -- President Yoon Suk Yeol pledged Wednesday to allocate government budget resources into child care services to support women in maintaining their careers.

Yoon made the remarks during an event to celebrate women's leadership in southern Seoul, emphasizing the importance of women playing more active and prominent roles in society.

"In order to overcome the complex challenges we currently face and to achieve a new leap forward, we must significantly harness the capabilities of women," Yoon said.

On Tuesday, President Yoon delivered a budget speech for the upcoming year, with a primary focus on economic and domestic issues, as well as how the budget will be allocated. The emphasis was on increasing welfare benefits and services for vulnerable populations, including women.

Despite vowing to stick to a sound fiscal policy in order not to pass debts on to future generations, Yoon said the budget will be spent for subsidies for children in an effort to boost the low birthrate that has plagued Asia's fourth-largest economy for more than a decade.

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