Home World South Korea experiences another drop in fertility rate, reaching the lowest in the world in 2023.

South Korea experiences another drop in fertility rate, reaching the lowest in the world in 2023.

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South Korea experiences another drop in fertility rate, reaching the lowest in the world in 2023.

South Korea’s Fertility Rate Plunges to Record Low in 2023

Challenges Faced by South Korean Women

South Korea’s fertility rate, already the world’s lowest, continued its dramatic decline in 2023. Women, concerned about their career advancement and the financial cost of raising children, decided to delay childbirth or not have babies.

Record Low Fertility Rate

The average number of expected babies for a South Korean woman during her reproductive life fell to a record low of 0.72 in 2023. This is far below the rate needed for a steady population and well behind previous years.

Gender Pay Gap

South Korea also faces the worst gender pay gap in the OECD, with women earning about two-thirds of men’s income. This disparity impacts women’s career growth and decision-making regarding childbirth.

Work-Life Balance Struggles

Many South Korean women, like Gwak Tae-hee, face dilemmas balancing career aspirations and family planning. Gwak, a junior manager, postponed starting IVF treatment to focus on work projects for better career prospects.

Demographic Crisis

South Korea’s demographic crisis poses a significant risk to economic growth and the social welfare system. The country’s population is projected to halve by the end of the century if fertility rates continue to decline.

Election Promises

Political parties in South Korea have vowed to address the declining birth rates through initiatives like public housing and easier loans to encourage childbirth. The focus is on preventing a “national extinction” due to plummeting fertility rates.

Regional Concerns

South Korea is not alone in facing demographic challenges. Neighboring countries like Japan and China also report record-low fertility rates, indicating a larger regional issue.

South Korea must address the root causes of declining fertility rates to ensure a sustainable future for its population.