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On June 19, South Korean President Yoon Suk Yeol attended a gathering of the Presidential Committee on Aging Society and Population Policy, alongside representatives from the Finance Ministry and Welfare Ministry, and declared a “nationwide emergency on inhabitants.”
This was the primary inhabitants committee assembly that the President personally convened as chair since March 2023. The assembly aimed to roll out measures to fight Korea’s falling birthrate. According to Yoon, these new measures have been designed after a reassessment of the federal government’s earlier insurance policies, which have been confirmed ineffective up to now.
In the primary quarter of 2024, Korea’s fertility charge (the variety of kids a girl has in her lifetime) hit one other new report low at 0.76 and is projected to fall even decrease to 0.68 this 12 months. Recognizing the urgency of the scenario, the Yoon authorities is now set to launch a complete emergency response system.
Some of the novel measures mentioned at this assembly embrace authorities funded free training and care for kids between ages 3 to five and the introduction of a brand new marriage tax deduction. President Yoon said that the federal government can even set up a brand new ministry beneath the identify of the Population Strategy Department to supervise the event of nationwide methods that handle the inhabitants problems with Korea. Until the launch of this ministry, nonetheless, the “emergency inhabitants response assembly” will likely be convened month-to-month by the inhabitants committee.
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Source: www.koreaboo.com