Reported 11 months ago
In the first quarter of this year, South Korea's total fertility rate hit a record low of 0.76, prompting President Yoon Suk-yeol to declare a 'population emergency.' However, the country is facing high inflation, high interest rates, and high rents, leading to the closure of many small stores in urban areas. The vacancy rates in commercial districts are on the rise, with many businesses struggling to stay afloat. The government is implementing measures such as increased childcare subsidies and improved parental leave to address the declining birth rate and aging population.
Source: YAHOO