South Korea's Declining Fertility Rate
South Korea's fertility rate hit a record low of 0.72 in 2023, with women opting to delay childbirth due to career concerns and financial costs. The country faces a demographic crisis with the population projected to halve by the end of the century.
Key Points
- South Korea's fertility rate dropped to 0.72 in 2023, well below the replacement rate of 2.1
- The country's population is on track to halve by the end of the century
- Efforts by political parties to encourage childbirth through public housing and loans
- Similar fertility rate challenges in neighboring countries like Japan and China
Pros
- Awareness of the challenges surrounding declining fertility rates
- Efforts by political parties to address the issue through policies
Cons
- Potential negative impact on the economy and social welfare system
- Pressure on women to choose between career advancement and starting a family