South Korea's fertility rate sinks to record low despite $270bn in incentives
Source: The Guardian and agencies
South Korea’s fertility rate sinks to record low despite $270bn in incentives
Average number of births per woman falls to 0.72 in country that already has the world’s lowest rate, and has spent billions since 2006 to reverse the trend
Justin McCurry and agencies
Wed 28 Feb 2024 05.57 GMT
First published on Wed 28 Feb 2024 04.05 GMT
South Korea’s demographic crisis has deepened with the release of data showing its birthrate – already the world’s lowest – fell to a new record low in 2023, despite billions of dollars in government schemes designed to persuade families to have more children.
Reports that South Korea’s population had shrunk for the fourth straight year came soon after neighbouring Japan reported a record decline in its population last year, along with a record fall in the number of births and the lowest number of marriages since the end of the second world war.
The average number of children a South Korean woman has during her lifetime fell to 0.72, from 0.78 in 2022 – a decline of nearly 8% – according to preliminary data from Statistics Korea, a government-affiliated body. The rate is well below the average of 2.1 children the country needs to maintain its current population of 51 million.
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. In addition, South Korean women give birth for the first time at the average age of 33.6 – the highest among OECD members.
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Read more: https://www.theguardian.com/world/2024/feb/28/south-korea-fertility-rate-2023-fall-record-low-incentives
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Source: BBC
Why South Korean women aren't having babies
28 February 2024
By Jean Mackenzie
Seoul correspondent
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For nearly 20 years, successive governments have thrown money at the problem - 379.8 trillion KRW ($286bn; £226bn) to be exact.
Couples who have children are showered with cash, from monthly handouts to subsidised housing and free taxis. Hospital bills and even IVF treatments are covered, though only for those who are married.
Such financial incentives have not worked, leading politicians to brainstorm more "creative" solutions, like hiring nannies from South East Asia and paying them below minimum wage, and exempting men from serving in the military service if they have three children before turning 30.
Unsurprisingly, policymakers have been accused of not listening to young people - especially women - about their needs. And so, over the past year we have travelled around the country, speaking to women to understand the reasons behind their decision not to have children.
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Read more: https://www.bbc.com/news/world-asia-68402139