S. Korea to focus on sustaining rebound in birth rate: acting president
SEOUL, March 11 (Yonhap) -- Acting President Choi Sang-mok said Tuesday that the government will mobilize all of its available resources to sustain the country's rebounding birth rate, which rose for the first time in nine years in 2024.
Last year, a total of 238,300 babies were born, marking a 3.6 percent on-year increase from the previous year following eight consecutive years of decline since 2015. The total fertility rate, the average number of children a woman is expected to have in her lifetime, also rebounded for the first time in nine years, reaching 0.75 in 2024.
"While part of this rebound can be attributed to delayed marriages and childbirths recovering after the COVID-19 pandemic, the concerted efforts of the private sector, government and local authorities have also played a significant role," Choi said during a population policy meeting.
He stressed that the government will continue to prioritize policies aimed at tackling the low birth rate, which still remains among the lowest in the world, and to ensure the hard-earned momentum is sustained through comprehensive measures.
Among the initiatives, the government plans to raise the maximum income threshold for newlyweds and families with newborns, allowing more households to qualify for low-interest housing loans.
Addressing the demographic challenges posed by the rapid aging of society, Choi noted the government faces pressing issues, such as the depletion of pension funds, as well as widening disparities and imbalances across various sectors.
As of December 2024, people aged 65 and older accounted for more than 20 percent of South Korea's total population, officially classifying the country as a "super-aged society."
"To cope with rapid aging, the government will not only work on structural measures, such as strengthening retirement income and establishing a foundation for continued employment, but also actively foster new growth opportunities, including the development of the age-tech industry," Choi said.
khj@yna.co.kr
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