On May 9, in a televised speech marking his second year in office, South Korean President Yoon Suk-yeol proposed the creation of a new ministry to address South Korea's low birth rate.

The South Korean government has been working to encourage women to have more children and maintain population stability, but the birth rate in South Korea still fell to a record low last year. According to data from Statistics Korea, the average birth rate for South Korean women fell to 0.72 in 2023, down nearly 8% from the previous year.

Experts estimate that this is far below the 2.1 needed to maintain the current population of 51 million. If the birth rate continues at this low level, South Korea's population will nearly halve by 2100.

South Korea has the world's highest life expectancy and lowest birth rate. Economists say the country's demographic crisis has become a top risk to economic growth and its social welfare system.

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