South Korea’s New Step in Dealing with Aging Population: Ministry of Planning Against Low Birth Rates Will Be Established

South Korean President Yoon Suk Yeol took a significant step to address the country’s aging population issue. In his national address, Yoon announced the establishment of a ‘Ministry of Planning Against Low Birth Rates’ to cope with the rapidly increasing aging population caused by low birth rates.

Yoon emphasized that they are facing a national emergency regarding the aging population, which is one of the country’s most crucial issues, and stated that the government will mobilize all its resources in this regard. Seeking support from the opposition, Yoon requested cooperation from the National Assembly in revising the government organization law.

Is a South Korea with Half the Population Possible?

Despite being a country known for low birth rates and long life expectancy, South Korea is experiencing a significant decline in fertility rates. The country’s fertility rate dropped to 0.72 in 2023, a decrease of about 8% from the previous year. Experts predict that if birth rates do not increase, South Korea’s current population of 51 million could nearly halve by the year 2100.