Lowest Fertility Rate Ever... Urgent Need for Youth Policy

Lowest Fertility Rate Ever... Urgent Need for Youth Policy

Low Birth Rate, Aging Population, Decreasing Population, Marriage, 2030 Households, Fertility Rate, Korea

News Published 2024.03.19 | Yun Jang

In recent years, one of the most pressing issues in Korea has been its low birthrate, reaching a record low of 0.65 in 2024 and surpassing that of any other OECD country. Korea is currently experiencing a severe aging population and a low birthrate at the same time. (Statistics Korea). 

Due to the societal norm of Korean society, in which out-of-wedlock children are rarely given birth, the low marriage rate is a significant contributor to the low fertility rate, as the society promotes an environment in which couples often feel the need to wait until marriage to start a family. 

The "2030 Generation Perception Survey" conducted by News Pim from January 15th to 20th investigated the reasons why so-called MZs choose not to get married. The survey revealed that the highest percentage, 69%, responded financial constraints as their primary reason for remaining unmarried. Furthermore, there has been a growing sentiment among citizens as a reason for remaining unmarried as they “didn’t find a suitable partner” and ” did not want to give up their life and career after marriage.” 

Citizen's concerns are escalating over the government's vague response to such crucial youth-related issues that hold significant implications for the future of the nation. According to an analysis of the 21st National Assembly's legislation by the civic group "Workplace Gapjil 119,” 220 bills concerning the Gender Equality Act, the Labor Standards Act, and the Employment Insurance Act were proposed, but only seven out of the 220 bills were processed. 

The fertility rate has experienced a significant decline over the past few years despite the government’s pledges and policies addressing the low fertility rates. However, the initiatives seem to make a limited impact so far. Some criticize the government's actions arguing that they may have exacerbated the low fertility rate. Urgent measures to address the low fertility rate seem to be unavoidable for the government as the concerns of youth in their 20s and 30s, who will bear the responsibility, are growing.

#Low Birth Rate #Aging Population #Decreasing Population #Marriage #2030 Households #Fertility Rate #Korea

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