South Korea’s 0.72 beginning fee is the bottom amongst OECD nations.
Seoul:
South Korean President Yoon Suk Yeol mentioned Thursday that he needs to create a brand new ministry to deal with the nation’s low birthrate – the world’s lowest, with the nation dealing with a looming demographic disaster.
“I ask the parliament’s cooperation to revise authorities organisation to arrange the Ministry of Low Start Fee Counter Planning,” he mentioned in a dwell deal with to the nation.
South Korea’s beginning fee fell to a document low final yr, official knowledge exhibits, regardless of having poured billions of {dollars} into efforts to encourage girls to have extra youngsters and preserve inhabitants stability.
The nation has one of many world’s longest life expectations and lowest beginning charges, a mix that presents a looming demographic problem.
South Korea’s fertility fee — the variety of youngsters a girl is predicted to have in her lifetime — dropped to 0.72 in 2023, down practically eight p.c from 2022, in keeping with preliminary knowledge from Statistics Korea in February.
That is far under the two.1 youngsters wanted to take care of the present inhabitants of 51 million, which at these charges will practically halve by the yr 2100, consultants estimate.
South Korea’s 0.72 beginning fee is the bottom amongst OECD nations, whereas the typical age to offer beginning is 33.6, the best within the OECD.
It comes regardless of the federal government having spent huge quantities to encourage extra infants, together with money subsidies, babysitting companies and help for infertility therapy.
However the beginning fee has continued its continual decline.
Yoon’s touch upon the beginning fee ministry got here earlier than his first press convention in practically two years after his celebration suffered a sweeping defeat within the common elections final month.
(Aside from the headline, this story has not been edited by NDTV workers and is printed from a syndicated feed.)
