Single-Parent Families' Household Income At 60 Pc Of Average: Report

(MENAFN- IANS) Seoul, March 30 (IANS) The average monthly income of single-parent families stands at only about 60 percent of the average for all households, a government report showed on Sunday.

The average income of single-parent families with children under the age of 18 came to 2.94 million won ($2,003) in 2024, according to the Ministry of Gender Equality and Family.

The amount amounts to 60.3 percent of the average for all households, which came to 4.89 million won for the year, reports Yonhap news agency.

The average debt owed by single-parent families stood at 47.2 million won last year, over a twofold increase from the 18.52 million won tallied in 2021. The ministry publishes the report on single-parent households every three years.

Over 50 percent of single-parent households surveyed cited housing expenses as the biggest reason for their debts, while 40.7 percent cited living expenses, according to the ministry.

Single-parent households spent an average 580,000 won in child-rearing expenses each month, but 71.3 percent of the respondents said they have never received child support from their spouse.

Asked what they deemed as the most urgent policy to secure child-rearing expenses, 71 percent pointed to expanding government support of urgent child support fees and introducing an advanced payment system for child support, said the Yonhap report.

The advanced payment system, set to go into effect in July, will have the government provide single parents with child-rearing expenses upfront and then recoup the money from divorced spouses, according to the report.

"We will make sure single-parent families can go to work without having to worry about caring for their children by prioritizing the provision of child care services," a ministry official said.

-IANS

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