South Korean President Yoon Suk-yeol Addresses Nation’s Birthrate Crisis

ISTANBUL: In a recent cabinet meeting, South Korean President Yoon Suk-yeol emphasized the need for ‘extraordinary determination’ to address the country’s critically low birthrate.

According to Philippines News Agency, President Yoon urged government agencies to adopt a fundamentally different perspective in seeking effective solutions. South Korea, experiencing the world’s lowest birthrate, faces significant challenges as its fertility rate dropped to a record low of 0.7 in the third quarter of this year, far below the replacement level of 2.1. The president highlighted factors such as intense educational competition contributing to this decline. Despite efforts, including an expenditure of approximately USD200 billion over 16 years to boost population growth, the birthrate has continued to fall. The World Economic Forum recently warned of drastic population reductions if trends persist. In 2022, the birthrate hit an all-time low for the third consecutive year, with only 249,000 births, marking a further 4.4% population decrease from 2021. Statistics Korea data revealed an increase in the average age of women at the birth of their first child, now at 33 years.