8/3/2022

Young People in South Korea Don't Want Babies

If you lived in Seoul and earned the average income, it would take you 19 years to buy a home in Seoul. Women still have to choose between career and family. Unemployment rates are high and job opportunities are low. Between inflation and social norms, the younger generation don’t believe that the benefits of having a child will outway the costs. And as a result,the country’s population is at risk. In fact, SK’s population is 51 million and yet, it has one of the lowest birth rates in the world. Even the government’s $37B investment in families with children couldn’t reverse the trend: the rates of both fertility and couples tying the knot are at an all time low, and the country is anxious.

8/3/2022

Young People in South Korea Don't Want Babies

If you lived in Seoul and earned the average income, it would take you 19 years to buy a home in Seoul. Women still have to choose between career and family. Unemployment rates are high and job opportunities are low. Between inflation and social norms, the younger generation don’t believe that the benefits of having a child will outway the costs. And as a result,the country’s population is at risk. In fact, SK’s population is 51 million and yet, it has one of the lowest birth rates in the world. Even the government’s $37B investment in families with children couldn’t reverse the trend: the rates of both fertility and couples tying the knot are at an all time low, and the country is anxious.

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Young People in South Korea Don't Want Babies