Population Crisis in the Land of Ginseng, South Korean President: Time is Almost Up

<br>Krisis Populasi di Negeri Ginseng, Presiden Korsel: Waktunya Hampir Habis<br>

"Population Crisis in the Ginseng State, South Korean President: Time is Almost Up"

Population Crisis in the Land of Ginseng, South Korean President: Time is Almost Up

"Dream - Two countries in East Asia that have been experiencing a population crisis for several years now, up until the end of 2023, are Japan and South Korea. The local governments are taking various measures to address this."

"For the condition of South Korea (Korsel), President Yoon Suk Yeol urged his staff to immediately seek solutions. Several policy measures have actually been made."

"Unfortunately, the policies that have been implemented have not been able to motivate the younger generation in South Korea to get married and have children. "

"The issue of low birth rates requires us to address the situation more seriously and reflect on the causes and solutions from different dimensions than before," said South Korean President Yoon Suk Yeol, as quoted by Yonhap."

"President Yoon revealed the continuous decline in birth rates due to intense competition, such as education. "

The South Korean statistics agency reported that the birth rate in the third quarter of 2023 was only 0.73. This figure is far below the 2.1 standard needed for a stable population of 51 million. "Time is running out. I hope every government agency approaches the issue of low birth rates with extraordinary determination," he said.

The solution offered by President Yoon is reform in the pension, labor, and education sectors. President Yoon also requested that government agencies execute the tasks from the government budget that was just passed by the South Korean parliament last week.

The translation of "Anak Muda Korea Malas Berkeluarga" to English is "Korean Youth Reluctant to Start Families."

"South Korea is experiencing a demographic crisis after new data revealed a low fertility rate in the country nicknamed the land of ginseng. According to statistics recently released by Statistics Korea, there were 249,000 babies born in 2022."

"This figure has decreased by 4.4 percent from previous years and notes that this is the third consecutive year in which the death rate has exceeded the birth rate in the fourth largest economy in Asia. "The average number of babies expected per South Korean woman during her reproductive years fell to 0.78 in 2022, down from 0.81 the year before," said the report, quoted from Aljazeera."

"The figure is the lowest record that South Korea has experienced since 1970. This makes South Korea the only country in the world with a fertility rate below one."

"It is recorded that the population of South Korea began to decline for the first time in 2021, and is projected to decrease further to 38 million by 2070. Experts analyze that the birth rate must reach at least 2.1 to keep the population of the country stable at 52 million."

The plummeting birth rate raises concerns that a declining population could severely damage South Korea's economy due to a labor shortage and a ballooning welfare budget as the number of elderly people increases and the taxpayer base shrinks. Funds allocated for the pension budget are feared to drain the country's economy in the coming decades. Source: Liputan6.com

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