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BFF-27
SKOREA-POPULATION-BIRTH
S. Korea’s child birth hits record low in H1
SEOUL, Aug 26, 2020 (BSS/XINHUA) – South Korea’s childbirth hit a record low in the first half, fueling worries about a so-called demographic cliff, statistical office data showed on Wednesday.
The number of newborn babies was 142,663 in the January-June period, down 9.9 percent from the same period of last year, according to Statistics Korea. It was the lowest since relevant data began to be compiled in 1981.
The total fertility rate, which measures the number of babies a woman is forecast to bear during lifetime, stood at 0.84 in the second quarter, down from 0.90 recorded in the first quarter.
It was far lower than the replacement level of 2.1 that is required to maintain the country’s population at the current level.
The record-low child birth raised concerns about the demographic cliff, which refers to a sudden drop in the heads of household leading eventually to a consumption cliff.
The low birth rate has been a headache for the South Korean economy as it leads to lower workforce amid the fast-aging population, which would drag down the economy’s growth potential.
The record-low birth rate stemmed from a widespread social trend of delaying marriage and having no child, caused by various factors such as high cost for private education, expensive home price and worry about women’s career break from maternity leave.
The number of marriages was 109,287 in the first half, down 9.0 percent from a year earlier. It was the lowest first-half figure since data began to be compiled in 1981.
The number of divorces declined 6.8 percent to 51,326 in the first half, and the number of deaths gained 3.7 percent to 152,401.
BSS/XINHUA/SSS/1429 hrs