Key takeaways:

• South Korea's fertility rate increased to 0.75 in 2024, ending nine years of decline.
• Marriages surged by 14.9% in 2024, the largest increase since records began in 1970.
• The rise in birthrate is linked to changing social values around marriage and parenthood.

SEOUL: For the first time in nearly a decade, South Korea's fertility rate has risen, suggesting a potential end to the country's long-standing demographic crisis. Preliminary data released on February 26, 2024, indicates that the fertility rate reached 0.75, an increase from an all-time low of 0.72 in 2023, as reported by Channel News Asia.

The rise in births is closely associated with a notable jump in marriages, which surged by 14.9%—the most significant increase since the beginning of marriage data collection in 1970. Prior to this year, marriages had also shown a slight uptick of 1.0% in 2023, attributed to a rebound from pandemic-related delays, according to South China Morning Post.

The government has implemented various measures aimed at reversing the alarming trend of low birth rates, which saw the nation remain the only OECD member with a fertility rate below 1 since 2018. These initiatives followed a declaration of a "national demographic crisis" by the now-impeached President Yoon Suk Yeol, who even proposed the creation of a dedicated ministry to tackle this issue.

Statistics Korea official Park Hyun-jung noted a shift in societal attitudes, stating that "there was a change in social value, with more positive views about marriage and childbirth." Factors such as an increase in the number of individuals in their early 30s might also play a crucial role, as pointed out during a recent briefing.

Despite these positive indicators, challenges remain. The recent statistics show that last year, South Korea faced a natural population decline, with approximately 120,000 more deaths than births. The capital city of Seoul reported the lowest birthrate at 0.58.

South Korea's population peaked at 51.83 million in 2020 and is projected to dwindle to 36.22 million by 2072 if current trends continue, presenting significant socio-economic implications for the future, according to Reuters.