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The savings rate for those in their 30s declined to 28.5% in the first quarter from 29.4% five years ago, while that for all other age groups increased in the same period, central bank data shows.
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 ...
A social worker cares for a baby at the Jusarang Community Church in southern Seoul on May 24, 2017. ... receive for a newborn’s first year also increased in 2024 to a million won (around $740 ...
In 2018, fertility in South Korea became a topic of international debate after only 26,500 babies were born in October and an estimated 325,000 babies for the year, causing the country to achieve the lowest birth rate in the world.
List of countries by total fertility rate. A 2024 map of countries by fertility rate. Blue indicates negative fertility rates. Red indicates positive rates. This is a list of all sovereign states and dependencies by total fertility rate (TFR): the expected number of children born per woman in her child-bearing years.
South Korea has the lowest birth rate in the world. [19] With the fertility rate at just 0.7 (as of 2023) each South Korean woman on average will have fewer than one child in her lifetime. [ 20 ] This is significantly below the 2.1 threshold required to maintain a country's population. [ 21 ]
The total fertility rate in South Korea sharply declined from 4.53 in 1970 to 2.06 in 1983, falling below the replacement level of 2.10. The low birth rate accelerated in the 2000s, with the fertility rate dropping to 1.48 in 2000, 1.23 in 2010, and reaching 0.72 in 2023. [51] One example of Korea's economic crisis is the housing market.
If South Korea doesn't reverse its current low birth rate, the country's population will drop dramatically in coming decades. Facing a 'national emergency,' South Korea president announces new ...