[Editorial] A slowly sinking country

Korea’s birthrate has touched new lows. According to the 2022 Census Report by Statistics Korea, the total fertility rate — the average number of children a woman bears in her lifetime — fell to 0.78, losing 0.03 from the previous year to a fresh low since related data was kept track from 1970. Korea’s fertility rate at 4 in the early 1970s plunged to 3.77 in 1974, 2.99 in 1977, and 1.74 in 1984. From 2018, the number dropped under 1 for the first time to 0.98.

Korea’s birthrate stands at the lowest in the global context. South Korean birthrate had been at the bottom among the members of the Organization for Economic Cooperation and Development (OECD) since 2013. South Korea is the only country that has fertility rate under 1 based on the 2020 OECD statistics.

The ever-dwindling birthrate has existential consequences for the country. It could one day disappear from the map. According to the Population Research Center of Seoul National University, South Korea’s total population is expected to fall below the 50 million threshold in 2029 and drop under 30 million in 2076. By 2100, the population will reach just 16.5 million and stop at 1 million in 2,300. The scary estimation is based on the assumption that Koreas’ birthrate recovers to above 1 from 2030.

Even putting aside the disappearance from the map, the ramifications of population thinning are close to home. Pension finance is worsening. Domestic demand will sap due to reduced purchasing power. Maternity and pediatrics wards are closing due to a lack of doctors for those categories. Universities are shutting due to a student shortfall. Teachers have to wait 2 to 3 years for their first teaching job upon graduating and getting license.

Yet the society appears to be over-relaxed about the demographic danger. Research works have been made in abundance. The reasons and measures are laid out. Yet the birthrate keeps falling, which means authorities are not taking fundamental actions. Low birthrate should make the top agenda for a country in danger of vanishing. Yet neither the government nor the legislature seem to think so.

The presidential committee on low birth and aging society proved to a political showcase. Former lawmaker Na Kyung-won was removed from the vice chair in just three months in office after a conflict with the presidential office. It’s like a country being entirely engrossed with today’s meal while it is slowly sinking. What we need are not words but immediate actions. We must benchmark Finland and its bipartisan Committee for the Future, where parliamentarians from all parties put their heads together to study the issue of their future.