South Korea's Policy Push Springs to Life as World's Lowest Birthrate Rises
South Korea's birthrate has risen for the first time in nine years, with a total fertility rate of 0.75 in 2024, after eight consecutive years of declines from 1.24 in 2015. The government's efforts to incentivize companies and Koreans to embrace parenthood are starting to pay off, with more couples getting married and families having second children. Policy changes include increased paid parental leave, extended paternity leave, and mandatory childcare-related statistics reporting.
- The effectiveness of these policies highlights the power of targeted interventions in addressing demographic crises, but also underscores the need for sustained commitment and coordination among government agencies, employers, and society as a whole.
- How will the long-term impact of South Korea's demographic shift be felt in terms of its economic growth, social welfare system, and cultural values?