According to data from Statistics Korea, the birth rate In this country, the number of children a woman plans to have in her lifetime drops to 0.72 in 2023, or nearly 8% less than the previous year.
This number is much lower than the The birth rate of 2 to 1 children needed to maintain the current population is 51 million people.
South Korea previously predicted that the country’s birth rate would likely decrease further to 0 68 by 2024 . The capital Seoul, which has the highest housing costs in the country, had the lowest birth rate of 0.55 last year.
Since 2018, Korea is the only member country in the United Nations. Cooperation and Economic Development (OECD) has a birth rate below 1 despite the country’s government spending billions of dollars to reverse the trend of population decline.
“I intend to have children But I also don’t want to miss out on many promotion opportunities,” said Gwak Tae-hee, a 34-year-old manager at a Korean dairy company and married for 3 years.
Last year Gwak calculated to in vitro fertilization (IVF) to have children but ended up getting involved in projects to improve career prospects.
“I don’t know what it’s like in other places but I just do Working 2-3 days per week will get you nowhere in Korean companies. I hope it won’t be too late when I try (to have a baby) next year or the year after that,” Gwak shared.
Korea’s demographic crisis has become a top risk for economic growth and the social welfare system as the country’s population of 51 million people risks halving by the end of the century.
Ahead of elections in April the parties South Korea’s major politicians have pledged more public housing and easier loans to encourage people to have children to ease fears of population decline.
Marriage is considered is a prerequisite for having children in Korea, but the marriage rate in this country is also decreasing. Korea is having to deal with an aging population.
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