South Korea’s Birth Rate Falls to All-Time Low Despite Spending Billions to Reverse Trend

South Korea’s fertility rate, which is already the lowest globally, hit a new record low in 2023, despite the country’s significant financial efforts to reverse the trend. This drop marked the fourth consecutive year of population decline in South Korea. Statistics Korea data revealed on Wednesday that the average number of children a South Korean woman is expected to have during her childbearing years decreased to 0.72, down from 0.78 in 2022. The South Korean government has declared reversing the declining birthrate a national priority and pledged in December to implement “extraordinary measures” to address the issue. South Korea's Working Age Population Predicted to Fall by 3.2 Million During the 2020-2030 Period.

South Korea’s Birth Rate Hits New Low

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