Korea’s Birthrate Hits Another Record Low
The Big Picture: Korea’s birthrate in July dropped to an all-time low, further highlighting the country’s swift transition into an aging society.
By the numbers:
19,102 births were reported in July, a 6.7% decline from last year.
This year has seen record-low births every month, with figures like 23,179 in January and 18,615 in June.
All major regions, except North Chungcheong Province, reported a decline.
In contrast, deaths surged 8.3% year-on-year in July, totaling 28,238.
Why it matters: This is the 10th straight month of year-on-year decline, suggesting a persistent trend rather than a temporary dip. The imbalance between births and deaths has persisted for 45 consecutive months.
Dive Deeper: The country’s fertility rate, the average number of children a woman bears, hit a record low of 0.78 in 2022. To maintain a stable population of 52 million, experts believe a rate of 2.1 is necessary.
What’s worse is the theoretical benefits of a declining population (i.e. more jobs being available for the youth, lower working hours at the same overall pay, or housing becoming more affordable) aren’t happening and threatening to make a dire situation fatal.
The aging factor: People aged 65 or older accounted for 18.4% of Korea’s population in 2022. By 2025, this segment is set to represent 20%, classifying Korea as a super-aged society.
The solution? Address societal pressures, such as excessive competition in education and jobs, to pave the way for increased births.
It need not be some limited baby bonus check and then spouting terrible policy ideas, but real consistent YoY reforms like Czechia, which requires time, planning, and investment.
Juwon Park’s twitter thread is worth reading for an anecdotal experience on why people in Korea don’t want to have kids.
What’s next: With current trends, Korea’s population, which peaked at 51.84 million in 2020, is expected to drop to 50.19 million by 2040.
The post Korea’s Birthrate Hits Another Record Low appeared first on Stop Population Decline.