South Korea spent $200 billion, but it can’t pay people enough to have a baby

Link: https://www.cnn.com/2022/12/03/asia/south-korea-worlds-lowest-fertility-rate-intl-hnk-dst/index.html

Excerpt:

South Korea recently broke its own record for the world’s lowest fertility rate. Figures released in November showed the average number of children a South Korean woman will have in her lifetime is down to just 0.79.

That is far below the 2.1 needed to maintain a stable population and low even compared to other developed countries where the rate is falling, such as the United States (1.6) and Japan – which at 1.3 reported its own lowest rate on record.

And it spells trouble for a country with an aging population that faces a looming shortage of workers to support its pension system.

Author(s): Paula Hancocks

Publication Date: 3 Dec 2022

Publication Site: CNN