The search for solutions to South Korea’s critically low birthrate is increasingly highlighting the pivotal role of fiscal authorities. (Image courtesy of Yonhap)
JEJU, South Korea, May 31 (Yonhap) – Provincial government heads on Friday each proposed various policy directions to develop their cities as a potential solution to the country’s rapidly aging population coupled with a low fertility rate.
The remarks were made during a session on global branding policies for globalization at the Jeju Forum for Peace and Prosperity, an annual international peace forum held on South Korea’s southern resort island of Jeju. The session was hosted by Yonhap News TV.
“Global branding of cities is expected to be a good solution for revitalizing local cities,” said Seong Ghi-hong, CEO and president of Yonhap News Agency, during the opening remarks of the session.
South Korea’s total fertility rate, or the average number of children expected to be born to a woman over her lifetime, reached a record low of 0.72 in 2023, one of the lowest in the world.
North Gyeongsang Province Gov. Lee Cheol-woo highlighted the importance of regional integration in addressing the low birthrate.
“The main cause of low birthrate is the concentration in the wider Seoul area. To prevent this, regional areas must have good schools, medical facilities and cultural facilities like those in the area,” Lee said.
North Jeolla Province Gov. Kim Kwan-young emphasized his province as a “test bed for South Korea’s future,” vowing to lead the country with his province.
“North Jeolla Province has been known by its name for 128 years, but it was renamed North Jeolla Special Self-Governing Province on Jan. 18 this year,” Kim said.
(Yonhap)
