South Korea's fertility rate has been at the bottom of the world, and despite billions of dollars spent to reverse years of shrinking population, it fell to a record low in 2023.
South Korea's total fertility rate (TFR) has increased from 0.0 in 2022, according to data (link) released by Statistics Korea on Wednesday (February 28).78 down to 072。This data reflects the total number of children born to a woman in her lifetime. In general, the total fertility rate in developed countries should be at least 21. In order to reach the level of generational replacement.
Since 2018, South Korea has been the only member of the Organisation for Economic Co-operation and Development (OECD) to have a fertility rate below 1.
South Korea** has made reversing the decline in the birth rate a national priority and pledged in December to take "extraordinary measures" to deal with the situation.
Meanwhile, ahead of April, South Korea's major political parties pledged to provide more public housing and more convenient loans to halt the population decline.
Since 2006, South Korea has spent more than 360 trillion won (US$270 billion) on childcare subsidies, but it has failed to reverse the record low fertility rate.
At the same time, the marriage rate in South Korea is also declining, and the high financial burden is thought to be the main reason for this phenomenon.
The capital, Seoul, had the lowest fertility rate last year, at just 055。
South Korea had expected its fertility rate to fall further to 0 in 202468。