Starting in January, parents with children less than one year old will receive up to 700-thousand won per month from the government.

According to the health ministry's updated five-year basic childcare plan approved on Tuesday, the stipend will rise from the current 300-thousand per month for all households with children one year old or younger, but will differ based on the age of the children.

Parents with newborns younger than one year old will receive a monthly cash payment of 700-thousand won, while parents with one-year-old children will receive 350-thousand won.

If a child attends a daycare facility, 500-thousand won will be deducted from the monthly payment, but for parents with a one-year-old enrolled in childcare, they will be given 500-thousand won specifically to cover the care.

The monthly payments will be further expanded to one million won and 500-thousand won for children less than one year old and aged one, respectively, from 2024.

Part-time and overtime childcare services will be expanded in terms of both hours offered and eligibility to increase overall usage.

The number of state and publicly run daycare facilities, in high demand among parents, will gradually be expanded by around 500 per year over the next five years, with an aim to raise the usage rate of state and public daycare centers and those within companies from the current 37 percent to over 50 percent by 2027.