South Korea rolls out 'emergency' measures to tackle low birth rate

Govt efforts to focus on three core areas: work-life balance, childcare and housing

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South Korean President Yoon Suk-yeol on June 19 declared a "national emergency on population", rolling out measures to expand cash support for newborn babies and reverse the declining birth rate trend.

"The population crisis caused by extremely low birth rates is the foremost and critical issue for South Korea," he said, adding that the rapid population decline has now become a matter "prompting concerns about the very survival of South Korea".

Mr Yoon made the announcement during a meeting of the Presidential Committee on Ageing Society and Population Policy, which he chairs, alongside representatives from the Finance Ministry and Welfare Ministry at the HD Hyundai Global R&D Centre in Bundang, Gyeonggi province.

This was the first population committee meeting President Yoon has personally convened since March 2023.

According to Mr Yoon, the new measures stem from a thorough reassessment of the government's past efforts to boost the country's birth rate, which have proven ineffective.

In the first quarter, South Korea's fertility rate the number of children a woman has within her lifetime hit a record quarterly low of 0.76, and it is projected to drop to another fresh low of 0.68 in 2024.

Recognising the urgency of the issue, Mr Yoon said the government is launching a comprehensive emergency response system.

This includes establishing the Population Strategy Department, the new ministry Mr Yoon had pledged to create in May when marking his second presidential anniversary.