Korea Faces Record-Low Fertility Rate of 0.70 in Second Quarter, Raising Alarming Demographic Concerns

SEOUL: South Korea’s demographic landscape is witnessing a deepening crisis as the fertility rate plummets to a new historic low, with the second quarter recording a staggering figure of 0.70 children born per woman, according to Statistics Korea’s latest report. It is a downfall from its previous overall world’s lowest annual figure of 0.78.

This marks a further 0.05 decrease compared to the same period in the previous year. Alarmingly, this rate is not only below the already disconcerting annual average of 0.78 set last year but also mirrors the nadir reached in the last quarter of 2022. The implications of this troubling trend raise apprehensions of the fertility rate potentially dropping below the critical 0.70 level for the year.

In tandem with this downward spiral, the second quarter reported a diminishment in the number of newborns, plummeting by 6.8 percent year-on-year to a mere 56,087. This figure represents the lowest second-quarter count since 2009 when this data began to be officially reported. Contributing to the demographic crunch, June alone observed a 1.6 percent decline in monthly newborns, making it the 91st consecutive month of year-on-year decrease. On the flip side, the mortality rate surged by 7.6 percent in June, resulting in a net population decline of 8,205 – marking the 44th consecutive month of a natural population decrease. In this context, the second quarter reported a population contraction of 27,272, with all regions except Sejong experiencing a natural decrease.

The evolving attitude towards marriage and divorce is also shaping Korea’s demographic narrative. A Statistics Korea survey revealed that the younger generations are increasingly embracing divorce as a viable option, while their perception of marriage becomes more skeptical. Over a decade, the segment aged 19 to 34 considering “divorce as an option if there is a reason” surpassed those opposing it unequivocally. This shift occurred in 2018, marking a turning point at 22.6 percent to 20.9 percent, and the gap continued to widen until 2022, with 24.1 percent favoring divorce compared to 14.9 percent opposing it.

In parallel, the positive view of marriage among those aged 19 to 34 plummeted from 56.5 percent in 2012 to a mere 36.4 percent in the previous year. This drop of 13.6 percentage points from the overall age group average of 50 percent underscores a deep-rooted shift in societal attitudes. In addition, the proportion of those asserting “I don’t need to have a child even if I get married” surged from 46.4 percent in 2018 to 53.5 percent last year, painting a stark picture of changing priorities among the younger generation.

Addressing this demographic crisis, the Korean government has taken action by earmarking increased funds for welfare and childcare in the upcoming year’s budget. Notable measures include a six-month extension of paid parenting leave, an augmented parental subsidy for children under one year, and financial support for households with newborns. These efforts aim to grapple with the severe challenge posed by the country’s rapidly declining birthrates and evolving societal values.