South Korea has the lowest fertility rate in the world – and its falling.
Like many countries, their fertility rate is well below 2.1 (replacement level).
Efforts to bolster fertility have not worked in South Korea, despite a reported investment of about $200 billion over 16 years by way of cash incentives. Those efforts have included paid parental leave, including paternity leave, so-called “baby vouchers” to new parents and more. The South Korean government has provided subsidies for childcare, for pregnancy and to help with the cost of giving birth, among other measures.
Source: South Korea broke its own record for lowest fertility rate in 2022
Here in the U.S. politically dim leadership propose we address this by expanding childcare subsidies and family benefits – yet this approach has not worked anywhere in the world.
Scandinavian countries have had extensive family benefits for a long time – and it has barely budged the needle.
Russia pays first time Mom’s $8,000 – and $10,500 equivalent for a 2nd child. Yet Russian’s are now leaving the country as Russia’s population is crashing.
