South Korea's ** bank, the Bank of Korea, released a report on the 3rd, saying that if South Korea cannot take effective measures to boost the sluggish fertility rate, the South Korean economy will fall into negative growth in 2050.
According to the report, South Korea's total fertility rate, or the average number of children per woman of childbearing age, was 0 in 202181, which is at the bottom of the 35 member countries of the Organization for Economic Co-operation and Development (OECD). From 1960 to 2021, South Korea's total fertility rate increased from 595 down to 081, the decline is among the highest in the world.
According to the report, if South Korea's current low fertility rate is not reversed, the country's economy will experience negative growth in 2050. South Korea's population is expected to decrease from about 51 million today to less than 40 million by 2070.
According to Bank of Korea, the main reasons for the sluggish fertility rate in South Korea include fierce competition, difficulties in finding jobs, high housing costs, and concerns about the safety of children. According to the report, if South Korea** measures are introduced to address the above reasons, the country's total fertility rate is expected to rebound to 0845。
Data released by Statistics Korea in August this year showed that the number of newborns in the country in 2022 was 2490,000, with a total fertility rate of 078, both of which were the lowest on record. 0.The total fertility rate of 78 is well below the 2 needed to ensure the stability of the country's population numbers1。
In recent years, the phenomenon of late marriage and non-marriage in Korean society has gradually increased, and the fertility rate has been declining. Data shows that in 2022, there will be about 1920,000 couples registered their marriages, the 11th consecutive year of decline and the lowest since statistics began in 1970. (END) (Zhang Jing).