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Seoul, South Korea—South Korean President Yoon Suk Yeol said Thursday that he wants to create a new ministry to address the country’s low birthrate—the world’s lowest, with the country facing a looming demographic crisis.
South Korea’s birth rate fell to a record low last year, official data shows, despite having poured billions of dollars into efforts to encourage women to have more children and maintain population stability. South Korea’s fertility rate—the number of children a woman is expected to have in her lifetime— dropped to 0.72 in 2023, down nearly eight percent from 2022, according to preliminary data from Statistics Korea in February.This is far below the 2.1 children needed to maintain the current population of 51 million, which at these rates will nearly halve by the year 2100, experts estimate.
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