South Korea's fertility rate has fallen even further. The fertility rate in South Korea, which is already the lowest in the world, fell even further. The nation is currently experiencing a demographic crisis as a result of this new low in the fertility rate.
"South Korea's Birth Rate Hits Record Low: Projected Children Per Woman Decreases to 0.72"
The National Statistics Office in Seoul released data showing that the projected number of children per woman in her lifetime decreased from 0.78 in 2022 to 0.72 in 2023. The number of births has decreased to 2,30,000, a decrease of 7.7%. The 50 million-person country had record lows in the numbers from the previous year.
South Korean society is continuing to age due to a low birth rate, which has sparked worries about the mounting costs of public health care and pensions.
In addition to endangering economic growth, low fertility could result in a declining labor force.
In the next fifty years, South Korea’s working-age population is predicted to drop by half, the country’s mandatory military enrollment rate is predicted to drop by fifty-eight percent, and half of the country’s population is predicted to be over 65.
The fertility rate has dropped to a new low despite government incentives including free cabs, hospital expenses, and IVF procedures for married couples, among other benefits.
Why Do South Korean Women Feel So Against Having Kids?
In South Korea, women have eschewed having children in favor of financial security and job development. South Korean women worry about their own life if they have children, citing fears such as being forced to leave their careers or being caught in a “perpetual cycle of work.”
Moreover, women are deterred from having children and “settling down” by the exorbitant gender pay disparity and expensive housing costs.
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