World's lowest fertility rate of South Korea plunges again in 2023; number of babies born in 2023 fell for eighth straight year to record low in Japan

The fertility rate in South Korea has been declining for several decades, and it is currently at its lowest level since records began. In 2023, the number of babies born in South Korea fell for the eighth straight year to a record low. This decline in births can be attributed to a variety of factors, including an aging population, increased access to contraception, and changing societal attitudes towards family and childbearing.

In Japan, the fertility rate has also been declining for several decades, and it reached its lowest level in 2023. The average number of expected babies for a Japanese woman during her reproductive life fell to 1.46 from 1.52 in 2022, data from the Ministry of Health, Labour and Welfare showed. This decline in births is also attributed to a variety of factors, including an aging population, increased access to contraception, and changing societal attitudes towards family and childbearing.

It's worth noting that low fertility rates can have significant economic and social implications for a country. For example, a declining population can lead to labor shortages, which can in turn lead to higher wages and increased productivity. However, it can also lead to issues such as an aging population and a shrinking workforce, which can put a strain on the economy and society as a whole.