SEOUL – South Korea recorded more deaths than births in 2020 for the first time ever, raising fresh alarm in the country which already has the world’s lowest birth rate.
Only 275,800 babies were born last year, down 10 percent from 2019. Around 307,764 people died.
Apart from increased pressure on public spending as demand for healthcare systems and pensions rise, a declining youth population also leads to labor shortages that have a direct impact on the economy.
Last month, President Moon Jae-in launched several policies aimed at addressing the low birth rate, including cash incentives for families.(BBC)
