March 23, 2023

South Korea is worried about this, spent 16 billion rupees, yet…

2 min read


South Korea broke its own record for the lowest fertility rate.
In the last 16 years, more than 200 million dollars were spent in trying to promote the population.
Despite this, there is not much improvement in the situation.

Seoul. It is the season of baby fairs in South Korea. Amidst the hustle and bustle of the busy halls of the fair, hundreds of vendors are trying to sell the parents-to-be in the days to come, everything that can add a little joy to them. All those things are also being tried to be sold here, about which the parents do not even know whether they need it or not. But now this business is shrinking and the number of customers is also decreasing.

According to CNN, South Korea has recently broken its own record for the world’s lowest fertility rate. Data released in November showed that the average number of children a South Korean woman would have during her lifetime would drop to just 0.79. This is well below the 2.1 rate needed to maintain a stable population and is also lower than other developed countries where the rate is falling. Let us tell that Japan which has reported its lowest rate on record at 1.3. And the United States has reported a rate of 1.6.

During a visit to a nursery in September, South Korean President Yoon Suk Yeol admitted that it had spent more than $200 million ($200 million or about 16 billion, 33 crore rupees) over the past 16 years trying to boost the population. went. After taking office in May, his administration established a committee to address the problem of low fertility rates. Along with this, financial assistance was also promised to increase the fertility rate. According to the Yoon administration, the monthly allowance for parents with children under one year old will increase from the current 300,000 won to 700,000 won ($230 to $540) in 2023 and 1 million Korean won ($770) by 2024.

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At the same time, the South Korean public doubts Yoon’s intentions. They believe that Yoon has no better grasp of the problem than his predecessors. Many experts believe that the solution to the current problem that is being claimed by the Yun administration is too one-dimensional. It cannot be solved with a ‘throw-money-at-it’ approach. Instead of adopting this approach continuous support is needed throughout the life of the child.

Tags: population, south korea

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