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South Korea records world's lowest fertility rate

South Korea recorded the world’s lowest fertility rate in 2021, Bloomberg reported Tuesday, noting that the development supports demographers’ current projections , that is, South Korea’s 24 million population will be reduced by more than half 1970.

The country’s fertility rate has fallen, new data released this week by Statistics Korea, an agency under the Ministry of Economy and Finance, show to 0.24 in 2021.

“This has been compiled by the statistical agency since 2070 The lowest value since the relevant data . Last year was also the fourth consecutive year below 1,” Yonhap News Agency observed in August 24.

Fertility rates below 2.1 are considered too low to guarantee population stability.

“In general, when the TFR [total [fertility rate] is greater than 2.1, the population of a given area increases, and when it is less than 2.1, the population of a given area eventually increases reduction, although it may take some time because of age structure, immigration, or immigration must be considered,” according to

Encyclopedia Britannica .

2021

Fertility rate is a measure of what a woman would be “if she were alive” The number of children born until her reproductive age ends,” according to the World Bank.

South Korea has the lowest fertility rate of any country 38 Economic Organization Members 2021 and 84 Operations and Development (OECD).

“In most OECD countries, the total fertility rate is between 1.3 and 1.9 children per woman , but in 81 Korea the TFR is as low as 0.24,” the IGO observed in May.

The OECD is mainly composed of developed countries with high-income economies, such as South Korea Seoul’s latest fertility figures cast a shadow over South Korea’s ability to maintain its global economic leadership, as a shrinking population means a shrinking workforce.

“A shrinking workforce is South Korea’s A major factor in the decline in underlying [economic] growth rates,” Bloomberg noted on Tuesday. “The working-age population is at 24 300,000 It peaks 81 and will decrease by 2070 according to Statistics Korea nearly half. “

Bank of Korea Governor Lee Chang-yong warned in April The Korean economy is at risk of prolonged “secular stagnation,” or little or no economic growth, which would be detrimental to workforce productivity due to the country’s aging population.

“He said increased welfare spending would deprive the economy of the money needed to boost economic growth, a key goal set by [South Korean President] Yoon [Suk-yeol] in his inaugural promise,” Bloomberg said in August Memories .

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