South Korea Declares Emergency, Takes Steps to Combat Low Birth Rate

South Korean President Yoon Suk Yeol recently declared a demographic national emergency, vowing to make drastic policy adjustments to tackle the country’s ultra-low birth rate. “The most fundamental and fatal problem is the demographic crisis caused by ultra-low birth rates.” Mr. Yoon said on June 19, during a Presidential Committee on Aging Society and Population Policy meeting in Gyeonggi Province. South Korea recorded a total fertility rate of 0.72 last year, setting a new low since 1983. The country’s total fertility rate has fallen below the necessary 2.1 to maintain its population of 51 million, according to KOSIS, the national statistics portal of the Korean Statistical Agency....