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As South Korea scrambles to halt the sharp decline in its birth rate, policymakers are having a hard time convincing many in their 20s and 30s that parenthood is a better investment than stylish ...
Due to the very low birth rate, South Korea is predicted to enter a Russian Cross pattern once the large generation born in the 1960s starts to die off, with potentially decades of population decline. Since 2016, the number of elderly people (+65 years old) outnumbered children (0–14 years) and the country became an "aged society".
Last year, South Korea beat its own record for having the world’s lowest birth rate, reporting 0.72 births per woman for 2023, down from 0.78 in 2022. Singapore reported 0.97 births per woman ...
However, this average masks the huge variation between countries. Niger has the world's highest fertility rate at 7.1 while Cyprus has one of the lowest at 1.0. In general, the more developed countries, including much of Europe, the United States, South Korea, and Australia, tend to have lower fertility rates. [5]
The replacement fertility rate is 2.1 births per female for most developed countries (2.1 in the United Kingdom, for example), but can be as high as 3.5 in undeveloped countries because of higher mortality rates, especially child mortality. [11]
South Korea has the world’s lowest fertility rate, which indicates the average number of children a woman will have in her lifetime. It recorded a rate of just 0.72 in 2023 – down from 0.78 ...
The birth rate decline in developed countries started in the late 19th century in northern Europe. [11] While improvements in contraception do play a role in birth rate decline, contraceptives were not generally available nor widely used in the 19th century and as a result likely did not play a significant role in the decline then. [11]
South Korea has the world’s lowest fertility rate, at 0.72 births per woman in 2023. That means, barring some change , Korea’s consumer market is shrinking.