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Korea‘s fertility rate drops to record low of 0.72 in 2023

Collected: 2024.02.29

Distributed: 2024.03.01

Source: Go Direct

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[Graphics by Song Ji-yoon]

South Korea’s fertility rate fell to a record low of 0.72 in 2023, driven by the world‘s fastest declining birth rates and rapid aging, data showed on Wednesday. With the rate forecast to decline even further to 0.7 or below in 2024, concerns are mounting about the repercussions of a population crisis on the country’s growth, employment, education, and national defense.

According to Statistics Korea on Wednesday, the number of births in 2023 totaled 230,000, down 19,200, or 7.7 percent, compared to the same period a year ago, and was the lowest figure ever recorded. The annual number of births has been plummeting since it collapsed from 400,000 in 2017 to set a new record low every year.

The total fertility rate, which represents the number of births expected per woman in her lifetime, fell by 0.06 from 0.78 a year ago, showing an increasing rate of decline. The birth rate for the fourth quarter of 2023 dropped to 0.65, falling below the 0.7 barrier for the first time on a quarterly basis.

By Kim Jung-hwan, Lee Hee-jo, and Yoon Yeon-hae

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