South Korea’s fertility rate dropped to fresh record low in 2023

South Korea’s fertility rate dropped to fresh record low in 2023
South Korea’s fertility rate dropped to fresh record low in 2023

Hello and welcome to the details of South Korea’s fertility rate dropped to fresh record low in 2023 and now with the details

Nevin Al Sukari - Sana'a - South Korea’s fertility rate, already the world’s lowest, dropped to a fresh record low in 2023, defying the billions of dollars spent by the country to try to reverse the trend as the population shrank for a fourth straight year. — Reuters pic

SEOUL, Feb 28 — South Korea’s fertility rate, already the world’s lowest, dropped to a fresh record low in 2023, defying the billions of dollars spent by the country to try to reverse the trend as the population shrank for a fourth straight year.

The average number of expected babies for a South Korean woman during her reproductive life fell to 0.72 from 0.78 in 2022, data from Statistics Korea showed today.

Since 2018, South Korea has been the only member of the Organisation for Economic Co-Operation and Development (OECD) to have a rate below 1.

The South Korean government has made it a national priority to reverse the falling birth rate and in December promised to come up with “extraordinary measures” to tackle the situation.

Advertisement

Meanwhile, ahead of elections in April South Korea’s major political parties vowed more public housing and easier loans in an effort to stem population decline, aiming to allay fears of “national extinction” as fertility rates crumble.

The parties’ focus on population in their election planks reflects growing alarm after spending of more than 360 trillion won (RM1.3 trillion) in areas such as childcare subsidies since 2006 has failed to reverse record low fertility rates.

Being married is seen as a prerequisite to having children in South Korea, but marriages are also falling in the country with high financial burden cited as the main reason.

Advertisement

South Korea is not alone in the region struggling with a rapidly ageing population. The fertility rate in neighbouring Japan’s hit a record low of 1.26 in 2022, while China recorded 1.09, also a record low.

In South Korea, the capital Seoul had the lowest fertility rate of 0.55 last year.

South Korea has previously projected its fertility rate is likely to fall further to 0.68 in 2024. — Reuters

These were the details of the news South Korea’s fertility rate dropped to fresh record low in 2023 for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at Malay Mail and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

NEXT Barrage of Russian attacks aims to cut Ukraine's lights

Author Information

I have been an independent financial adviser for over 11 years in the city and in recent years turned my experience in finance and passion for journalism into a full time role. I perform analysis of Companies and publicize valuable information for shareholder community. Address: 2077 Sharon Lane Mishawaka, IN 46544, USA Phone: (+1) 574-255-1083 Email: [email protected]