South Korea is currently facing a demographic crisis as a direct result of the declining birthrate there as a result of fewer people electing to have children.

What is demographic crisis?

A demographic crisis or population decline is is a drop in the number of people living in a certain area.

In the month of September, the South Korean statistics office reported a lower annual total fertility rate for the country. This information was made public.

Many South Koreans in their 20s and 30s report that, in contrast to their parents and grandparents, they do not feel driven to start a family of their own.

These couples think that if they had children, they would have to make sacrifices in their lives. Because of this, they have decided that instead of having kids, they should focus on themselves.

Key facts!

• As per government population consensus reports, in South Korea, there are a lot of people who have made the decision to either not get married or not have children.
• They point to the unpredictability of getting good jobs, costly housing, and gender inequality as areas of worry.
• In addition to the financial responsibility of bringing up children in society.
• And also a society that is intensely competitive.
• Women also complain about a culture that still upholds patriarchy.
• This pushes them to be responsible for the majority of child care.
• While simultaneously subjecting them to discrimination in the workplace.
• Population experts feel that other developed countries are also experiencing similar issues.
• However, the demographic problem in South Korea is significantly more severe.
• The authorities reported that the total fertility rate was the lowest third time in a row in comparison to other countries.
• The South Korean population experienced its first-ever decline in 2021.
• This stoked fears that a falling population could severely damage the economy.
• These fears stem from the fact that a declining population could result in labour shortages.
• In addition to increased welfare spending due to an increasing number of older people and a decreasing population of taxpayers.
• The President of South Korea intends to develop more effective ways to deal with this issue.

Watch this short video from user “CrashCourse” on YouTube to learn about population growth and change.

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