South Korean President Yun Suk-yol will create a new ministry to address the country's low birth rate. Reuters writes about it, UNN reports .
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The birth rate, the lowest in the world, means that in the long run the country will face a rapid wave of elderly people.
The government has allocated funds, among other things, for subsidies, nanny services, and support for assisted reproduction.
I ask for cooperation with the parliament to review the governmental organization to create a Ministry of Counteracting Low Birth Rate Planning
South Korea's fertility rate fell to a record low last year, official figures show, despite the country's billions of dollars in efforts to encourage women to have more children and keep the population stable.
The country has one of the world's longest life expectancies and lowest birth rates, a combination that creates a threatening demographic problem.
According to preliminary data from the Statistics Korea in February, South Korea's fertility rate-the number of children a woman is expected to have in her lifetime-fell to 0.72 in 2023, down nearly eight percent from 2022.
Experts estimate that this is far less than the 2.1 children needed to support the current population of 51 million, which at this rate will almost halve by 2100.