The government will pursue a revamp of the parental leave system in a bid to increase participation by fathers.

In a Cabinet meeting on Tuesday, the revision to the Enforcement Decree of the Employment Insurance Act was passed that will increase financial support in the case of joint parental leave from 2024.

The revision will expand support from 100 percent of wages up to three million won, or some 23-hundred U.S. dollars, per parent for three months for either simultaneous or sequential parental leave for parents of children 12 months or younger.

The new system will offer two million per parent in the first month, climbing 500-thousand won each month to a maximum of up to four-point-five million won in the sixth month for a combined total of 39 million won.

The bill aims to alleviate the realistic financial barrier to childrearing stemming from a reduced income when both parents take parental leave at the same time.