South Korea’s birthrate, the lowest in the world, rose in 2024 for the first time in nine years. Policy efforts to incentivise companies and Koreans to embrace parenthood start to pay off. In 2024, marriages rose even more sharply, at the fastest pace on record, climbing in 12 years on a post-pandemic boost. In last year’s government survey, 52.5% of South Koreans expressed positive views of marriage. The country’s population of 51 million is on track to halve by the end of this century, as women prioritise career advancement over parenthood due to the rising cost of housing and raising a child. The government plans to spend 19.7 trillion won ($13.76 billion) in the three areas of work-family balance, childcare and housing this year, up 22% from 2024. The number of second newborns, such as Nam’s, jumped 12% in the second half of 2024, versus an 11% rise in first-born babies.
