The problem of low fertility in South Korea
Date
2024
Authors
Kim, Joey
Journal Title
Journal ISSN
Volume Title
Publisher
University of Victoria
Abstract
Since 2005, the South Korean government worked to address the declining total fertility rate by enacting pronatalist policies. Despite these efforts, the country continues to experience one of the lowest total fertility rates in the world. This study draws on data from Statistics Korea, the Organisation for Economic Co-operation and Development (OECD), and several articles on low fertility rates and childcare in South Korea to assess whether the pronatalist policy introduced in 2021 could yield the desired outcomes for the government. The findings indicate that the government overlooked the interplay between culture and economic decisions. With the cultural norms of placing children in private education and expectations of women to drop out of the labour market after childbirth, the policy from 2021 does not address the rising costs of private education and opportunity costs for women, contributing to lower fertility. The South Korean government understands the impact of a prolonged low total fertility rate due to problems in areas like the public pension system. While multiple factors exist that influence the total fertility rate in South Korea, the research highlights the importance of policymakers acknowledging the interplay between culture and economic decisions.
Description
Keywords
policy review, total fertility rate, pronatalist policy in South Korea, private education for children, opportunity costs of giving birth, public pension system