Young South Koreans aren’t stoked about marriage

South Korea’s birth rate has fallen to an average of 0.75 births/woman, about a third of the figure needed to keep the population level stable. And its government’s efforts to boost dating and marriage are resembling Madonna’s attempts at a stand-up comedy career, according to a recent Wall Street Journal report.

• Saha-gu, a district in South Korea’s second largest city of Busan, offers singles who match at its events around $340 to spend on dates. Those who get married receive ~$14,000, housing subsidies, and more cash to cover pregnancy-related expenses and international travel. No participant has claimed the prize for marriage.
• 40+ South Korean districts launched matchmaking events between 2022 and last August. Among the ~4,000 singles who participated, just 24 couples got married.

Marriage is a tough sell. A recent survey shows roughly three-fifths of working South Koreans think it’s ok not to marry. Many say they don’t feel the need, and also that rising living costs are big disincentives to having children, as are the punishingly long work hours in South Korea’s office culture, per the WSJ.

Not just South Korea: By 2050, 155 countries won’t have high enough fertility rates to sustain population size over time, with this number increasing to 198 by 2100, according to a study published in The Lancet.

The result: The global population is expected to virtually stop growing by the end of this century for the first time in modern history.

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