Business Daily South Korea: How has it managed to reverse depopulation?
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Apr 6, 2025 South Korea's birth rate has been in free fall for years, but recent figures show a surprising uptick. Experts delve into the paradox of a booming baby products market overshadowed by low birth rates. The intense pressure on women to juggle careers and motherhood is dissected, revealing personal challenges and inadequate support. Survey insights uncover growing hesitance around parenthood due to modern life's demands. We explore how historical policies shaped this crisis and the ambitious efforts to encourage families, hinting at a potential turnaround.
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World's Lowest Birth Rate
- South Korea's birth rate is the world's lowest at 0.72, far below the replacement rate of 2.1.
- This means there are only 75 babies born for every 100 women.
Consequences of Low Birth Rate
- A low birth rate leads to a shrinking workforce and an aging population.
- This creates fewer working people to support a growing number of pensioners.
Impact on Baby Product Industry
- Hyun Jong Lee, CEO of a baby bedding company, noted a decline in customers at baby fairs.
- Many baby businesses transitioned to pet wear due to the low birth rate.