Despite Pouring Budget into Low Birthrate... Marriage and Birthrate Hit Record Lows Due to COVID, Any Solutions?

Last Year's Births Fall Below 200,000 for the First Time... Total Fertility Rate Hits Record Low
Marriage Rates Plummet Due to COVID-19... Marriages Down 11.9%

Last year, the number of newborns in our country fell to the 200,000 range for the first time in history. The photo is unrelated to specific expressions in the article. [Image source=Yonhap News]

[Asia Economy Reporter Heo Midam] "If the conditions for marriage aren't right, I just won't do it."

Last year, the number of births fell to the 200,000 range for the first time ever, accelerating the population cliff. Due to the impact of COVID-19, more people are postponing or avoiding marriage, raising concerns that the marriage rate will also decline. Since a drop in the marriage rate affects the birth rate, some argue that effective measures are needed.

Given this situation, the government has poured tens of trillions of won into low birthrate policies over recent years, but the downward trend in birth rates is accelerating, causing concern. Experts have suggested that the government should prepare more proactive measures, such as childbirth support policies.

According to the '2020 Birth Statistics (Final)' released by Statistics Korea on the 25th, the number of births last year was 272,300, a decrease of 30,300 (10.0%) compared to the previous year. This is the first time the annual number of births has fallen to the 200,000 range. This figure is half of the 559,900 births recorded in 2001, marking a halving in 19 years.

The total fertility rate, which is the average number of children a woman is expected to have in her lifetime, also recorded a historic low of 0.84 since statistics began. This means that women of childbearing age (15-49) are having no children at all. Among the 38 member countries of the Organisation for Economic Co-operation and Development (OECD), South Korea is the only country with a total fertility rate below 1.

The number of marriages is decreasing due to the impact of COVID-19. The photo is unrelated to specific expressions in the article. [Image source=Yonhap News]

Another issue is that the number of marriages has been decreasing since the onset of COVID-19 last year. In the first half of this year, the number of marriages was 96,265, down 13,012 (11.9%) from the previous year. This was the lowest number of marriages for the first half of the year and the largest decline ever recorded.

Meanwhile, it has been pointed out that the decline in marriages is related to the harsh lives of young people. Due to soaring real estate prices, employment difficulties, and unstable jobs in the labor market, young people are reluctant not only to have children but also to get married.

Office worker Park (26) said, "I don't really feel the need to get married," adding, "Dating and marriage are ultimately personal choices. There's no guarantee that getting married and having children will make me happier. Also, how much would the cost of preparing for marriage be? All of this feels like a burden."

He continued, "If I don't have financial stability but raise children, what crime have those children committed? I think they would feel deprived if I couldn't provide what they want."

If the low birthrate trend continues, the economic burden on future generations will increase. While the population starting new economic activities is decreasing, the elderly population that future generations must support is growing.

In response, the government is pouring budgets into low birthrate measures. Over the past five years (2016-2020), the government invested 150 trillion won in low birthrate policies, but the birthrate has worsened.

According to the 4th Basic Plan for Low Birthrate and Aging announced last December, the government plans to invest a total of 196 trillion won over the next five years (2021-2025).

The policy includes ▲introducing an infant allowance of 300,000 won from 2022 for all infants aged 0-1 (gradually increasing to 500,000 won by 2025) ▲providing 2 million won in vouchers upon childbirth ▲completely reforming parental leave pay, among other measures.

However, there are criticisms that the government's main measures focus only on increasing cash support, which reduces effectiveness. Structural factors that discourage childbirth, such as rising housing prices and private education costs, are being neglected while relying solely on cash support.

Experts analyzed that the harsh reality faced by young people has influenced the low birthrate.

Professor Kwak Geumju of Seoul National University's Department of Psychology said, "Young people today are struggling due to various issues like housing prices. On top of that, having children involves high childcare costs, increasing economic burdens. If the economy stabilizes, the willingness to have children will be higher than now," adding, "Unless proactive policies related to childbirth support and childcare systems are implemented, the birthrate will not rebound."

This content was produced with the assistance of AI translation services.