Can childbirth subsidies solve South Korea’s low birth rate?
A childcare facility recruiting new children. Photo provided by Eunjeong Lee. Korea's fertility rate dropped to 0.72 children per woman's lifetime in 2023, marking a historical low for both the country and the world. The plunge from six children per woman in 1960 to the current status is considered the most rapid fertility decline in human history. If the decline continues, South Korea’s population will be halved to 26.8 million by 2100, which may result in an irreversible decline in productivity and economic growth. For about two decades, the South Korean government has attempted to stimulate...