Yoon declares ‘demographic national emergency’

Jun 20, 2024, 09:31 am

AsiaToday reporter Hong Sun-mi

President Yoon Suk-yeol on Wednesday declared a “demographic national emergency” to fundamentally tackle the country’s ultralow birth rate. “Today, I officially declare a demographic national emergency. We will activate a pan-government comprehensive response system until the low birth rate issue is overcome.”

The ministry of demographic strategy and planning will be set up as a “control tower” to draw up policies on three core areas of work-life balance, child care and housing. The minister will serve as the deputy prime minister for social affairs, and be in charge of crafting strategies concerning population issues, including the low birth rate, the aging society and immigration policies, with the authority to review budgets and consult with provincial governments on related projects.

Yoon made the announcement during a meeting of the presidential committee on the low birth rate and aging population at HD Hyundai’s R&D Center in Seongnam, south of Seoul.

“Despite a significant spending of 280 trillion won over the past 16 years, the fertility rate is breaking the record low every year,” Yoon said. “Now, we need to hopefully change the grim future by making all-out efforts.”

“The most fundamental and fatal problem in our society is the population crisis caused by ultralow birth, and in the end, we have to worry about the existence of the Republic of Korea,” the president said.

Yoon outlined three main areas focused on balancing work and life, improving child care and providing better housing to address the complex issues.

The measures include raising the child care leave pay for the initial three months to 2.5 million won ($1,800) from the current 1.5 million won, and increasing paternity leave after childbirth to 20 days from the current 10 days.

Yoon committed to the government taking responsibility in supporting childcare and vowed to gradually implement a public child care system covering children from birth to 11 years old within his tenure. To achieve this, the government will provide free education and care for children aged 3 to 5. It will streamline access to home purchase and rental loans for those with newborns and offer improved preferential interest rates for each birth. A new marriage tax deduction will be introduced and child tax deductions expanded.

“The low birth rate is a combination of social and structural factor such as concentration in the Seoul capital area, fierce competition, and social anxiety. We need to make efforts to change the excessive and unnecessary economic culture of our society so that it can become a more relaxed and mature one,” Yoon said.

#South Korea #Yoon Suk-yeol #low birth #‘demographic national emergency’