“…Actual fertility outcomes in Korea show a substantial mismatch with fertility desires which is about two children even when TFR was 1.2 in 2011 (Korean General Social Survey, 2012),. Recent studies highlight an increase in the age of first marriage and a trend of remaining as single, influenced by the economic conditions: unaffordable housing costs, weak public pension plans, and high childrearing costs (Kwon, 2007;Yoo, 2016). Instead of devoting lifetime resources to childrearing and ensuing costs, young generations in Korea tend to allocate more financial resources to homeownership (Lee & Choi, 2015).…”