South Korea's President is pulling out all the stops.
President Yoon Suk Yeol is taking aim at the country's disastrously low birth rate by declaring a national emergency and is considering creating a new government ministry to address the coming disaster.
South Korea's president has declared the country's low birth rate a 'national emergency' and announced a new government ministry to address the problem.
In a televised press conference on May 9, President Yoon Suk Yeol said, 'We will mobilize all of the nation's capabilities to overcome the low birth rate, which can be considered a national emergency.'
How bad is the low birth rate in South Korea? It has been the worst on the planet for years, and 2023 showed a NEW low.
The babies per woman has dropped to 0.72 in 2023, down from 0.78 in the previous year. They would need to TRIPLE this number just to hit replacement rate.
It would take more than that to grow the population.
If this continues, South Korea will no longer exist soon enough.
Despite the government's efforts to increase the birth rate by spending over $200 billion on initiatives meant to encourage larger families, including infertility treatment, cash subsidies, and childcare services, the country's birth rate declined for the fourth year in a row in 2023.
A Korean Construction corporation made headlines this year for offering employees $75,000 for each baby they have. 'If Korea's birth rate remains low, the country will face extinction,' Lee Joong-keun, chairman of the Booyoung Group, warned.
Korea is experiencing what every developed nation is bound to figure out in the wake of feminism and the sexual revolution. Without children, there is no future possible. And it's too late for many countries.
According to YouTuber Stephan Park, who grew up in South Korea and runs the YouTube channel Asian Boss, Korean men face the additional problem of being expected to own a house when they marry, which is very difficult under the country's current economic conditions.
'There are all the societal pressures that if you get married, guys are the ones that are supposed to buy the house, to have the house ready, which is impossible to have if you are a 30-year-old guy … with the average house prices you'll never be able to afford one in your lifetime,' Park explained.
'So that's the most common thing we hear: "I cannot afford to get married,"' he added.
Yeah, that's a disaster. And the government's steps so far are not working.
According to estimates, in the next 70 years, Korea's population could easily be cut in half if nothing works.
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