South Korea's Projected Fertility Rate for 2024 at 0.75: Presidential Committee Insights
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Synopsis
Seoul, Jan 23 (NationPress) South Korea's fertility rate for 2024 is projected at 0.75, according to a presidential committee. This marks a potential recovery in the country's historically low birth rates, with expectations for an increase in childbirths after several years of decline.
Key Takeaways
- Projected fertility rate for 2024 is 0.75.
- Significant increase in births expected.
- Government's goal to reach 1 by 2030.
- South Korea to face super-aged society challenges.
- Current senior population at 20%.
Seoul, Jan 23 (NationPress) A presidential committee has reported that South Korea's fertility rate for 2024 is anticipated to be higher than previously forecasted, at 0.75, indicating a potential recovery in the nation's historically low birth rates.
The total fertility rate, which signifies the average expected births per woman over her lifetime, is expected to exceed the earlier estimate of 0.74 in 2024, as stated by the Presidential Committee on Aging Society and Population Policy, according to the Yonhap news agency.
This figure remains significantly below the 2.1 births per woman required to sustain a stable population without immigration. The government aims to elevate the fertility rate, which was recorded at 0.72 in 2023, to 1 by the year 2030.
“South Korea’s childbirths in 2024 are projected to show their first increase in nine years,” remarked Joo Hyung-hwan, the vice chairman of the committee, highlighting that the number of births in 2024 is expected to reach approximately 240,000, compared to 230,000 a year prior.
In November 2024, there were 20,095 births, reflecting a 14.6 percent increase from 17,530 in the same month the previous year. This marked the largest year-on-year rise since November 2010.
“In 2025, the government will further strengthen the positive trend to initiate a recovery in low birth rates while establishing a foundation for a smooth transition in confronting a super-aged society,” Joo added.
The vice chairman also pointed out that South Korea is projected to have the oldest demographic globally, with seniors expected to comprise 37.3 percent of the population by 2045.
As of December, government statistics indicated that the number of South Koreans aged 65 and older was 10.24 million, representing 20 percent of the total population of 51.22 million.
The UN categorizes nations with over 7 percent of their population aged 65 or older as an aging society, those exceeding 14 percent as an aged society, and those with more than 20 percent as a super-aged society.
