A chart illustrates how the estimated value of unpaid household labor is transferred among children, working-age adults and older people in South Korea. Information from Ministry of Data and Statistics. Infographic by Asia Today and translated by UPI
June 23 (Asia Today) -- The estimated value of unpaid household services consumed by South Korean children totaled 116.6 trillion won ($75.3 billion) in 2024, with parents and grandparents providing much of the work, government data showed Tuesday.
The Ministry of Data and Statistics published the findings in South Korea's 2024 National Time Transfer Accounts, which measure how unpaid household work is produced, consumed and transferred among age groups.
The account covers services that are generally excluded from gross domestic product, including cooking, cleaning, household management, caregiving and volunteer work.
The figure does not represent money that families paid for child care. It estimates the market value of unpaid services by using the time spent on household work, population figures and the wages that would be required to hire someone to perform similar tasks.
