Country's population is declining, causing concern and panic due to limited time to address the issue.

The current fertility rate in South Korea has reached a record low, causing a state of urgency in the country's population crisis. It is predicted that by the year 2070, the population will decrease by almost 20 million, and by 2100, it will have halved. President Yoon Suk Yeol has declared this situation a "national emergency" in January, emphasizing the limited time they have to address the declining population.

South Korea's birth rate is currently the lowest in the world, with only 0.72 children per woman. In comparison, Australia recorded a birth rate of 1.6 births per woman in 2023. It is commonly known that a fertility rate of 2.1 is required for a stable population without relying on immigration. However, South Korea's immigration policy is notoriously strict, requiring a significant investment and a limited number of options for potential immigrants.

So, what exactly is causing the low birth rate in South Korea? There are several factors, one being the quality of life in the country. Many women have chosen not to have children due to inequality in the workplace, sexism, unaffordable housing, and the long work hours that are typical in South Korea. Research has shown that the demanding work culture, often with low pay, has contributed to the decline in the fertility rate. Sunghoon Kim, an associate professor at the University of Sydney, believes that the excessive work hours and the culture of loyalty to employers are to blame. Although there is parental leave available, many employees may feel pressured not to take advantage of it.

Housing affordability is also a significant concern for both men and women in South Korea. The high cost of housing often leads to longer work hours and delayed decisions to start a family. This trend is seen in the younger generation who grew up witnessing the financial burden their parents faced in raising them. As a result, many are fearful of starting a family and taking on the same financial struggles.

Some experts believe that South Korean women are also rejecting traditional roles in protest against a society that they consider to be sexist. Chung Hyun-back, the former gender equality minister, believes that the country's patriarchal culture is a significant factor. Jiny Kim, a 30-year-old woman from Seoul, stated that the declining birth rate is a form of revenge against a society that places unreasonable expectations on women and does not give them the respect they deserve.

The consequences of a declining population are both social and economic. It can lead to economic strain on the workforce, a lack of infrastructure to support a growing population, and a decrease in GDP. Socially, it can result in less community engagement, a loss of cultural identity, and an increase in mental health issues. Additionally, a shrinking population means there are fewer working-age citizens, which could have a negative impact on the elderly population in terms of care and support.

To combat this crisis, the Yoon administration is taking measures such as funding housing and childcare programs to encourage women to have children. They are also planning to improve the transportation system to reduce commuting time for workers, allowing them to spend more time with their families. The government has also promised more public housing, tax cuts, and easier loans, which could potentially have a positive impact on the birth rate. Lee Jae-myung, a leader of the opposition Democratic Party, has acknowledged the urgency of the situation and stated that "national extinction" is a challenge that must be addressed immediately.

Some experts suggest that immigration could help mitigate the declining population, but it is not likely to be a sufficient solution. In an effort to encourage more marriages and births, one local government in Busan is even offering cash incentives to singles who tie the knot. This is just one example of the various actions being taken to combat the population crisis in South Korea.

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