South Korean President Yoon Suk-yeol announced on Wednesday a state of “demographic national emergency,” highlighting the country’s deepening issues with an aging population and a extremely low birth rate. This declaration came in light of the critical challenges faced by South Korea as it grapples with demographic shifts that threaten its economic vitality and social welfare systems.
President Yoon emphasized the urgency of addressing the country’s ultra-low birth rate, pledging comprehensive efforts to tackle this pressing issue. His declaration comes when South Korea’s demographic landscape increasingly reflects a shrinking workforce, strained social services, and concerns over future economic sustainability.
According to Seoul-based Yonhap News Agency, announcing the demographic national emergency, President Yoon vowed to make all-out efforts to tackle the country’s ultralow birth rate.
“Today, I officially declare a demographic national emergency. We will activate a pan-government comprehensive response system until the low birth rate issue is overcome,” Yoon stated during a meeting of the presidential committee on the low birth rate and aging population.
The declaration comes as South Korea recorded a total fertility rate of 0.72 in 2023, a record low and significantly below the replacement level of 2.1 required to maintain the current population. This meeting, held at a childcare center in HD Hyundai’s R&D Center in Seongnam, discussed the grim prospects and warnings that South Korea’s population could face severe declines unless the trend is reversed.
The declining birth rate in South Korea has been attributed to several factors, including the high cost of housing, education, and long working hours, which deter couples from starting families. To address these issues, President Yoon has promised to implement concrete measures aimed at easing the burdens on parents and encouraging family growth.
Yoon’s government will focus on three main areas: balancing work and life, improving childcare services, and providing better housing options. Measures include increasing parental leave allowances, extending leave for fathers, and introducing flexible work hours. The goal is to raise the paternity leave usage rate from the current 6.8 percent to 50 percent during Yoon’s term.
Additionally, the government plans to offer free public childcare services for children aged 3-5 and expand after-school programs at elementary schools. To alleviate housing concerns, households with newborn babies will be given priority in purchasing homes, along with low-interest loans for newlyweds. These comprehensive steps aim to create a more supportive environment for families and address South Korea’s demographic challenges.
Households with newborns will receive priority in housing allocations and access to low-interest loans for home purchases, along with expanded tax benefits for families with children. These incentives aim to encourage more newlywed couples to have babies and ease the financial burden of starting a family.
To ensure these measures are effectively implemented, President Yoon announced the establishment of a new ministry, tentatively named the Ministry of Population Strategy Planning. This ministry, led by the deputy prime minister for social affairs, will oversee population-related strategies, including addressing the low birth rate, managing an aging society, and developing immigration policies. Yoon has called for the National Assembly’s cooperation to expedite the creation of this ministry.
