South Korea Creates Measures To Solve Low Birth Rate

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"I officially declare a 'national demographic emergency'. We will activate a comprehensive government response system until the challenge of the low birth rate is resolved," Yoon said during a meeting with a presidential committee in Seongnam, south of Seoul.

South Korea currently has the lowest birth rate in the developed world, according to data from the OECD (Organization for Economic Cooperation and Development).

The South Korean President outlined three major areas for the plan: work-life balance, improving childcare services and better access to housing for families.

Following the heavy defeat of Yoon's conservative party, the People's Power Party, in April's legislative elections, the head of state, who finds himself seriously weakened in Parliament during the remaining three years of his term, announced the creation of a new ministry to solve the problem of low birth rate.

The minister of this new portfolio, initially called the Ministry of Strategic Population Planning, will also perform the functions of deputy prime minister for social affairs.

The ministry will be responsible for developing strategies related to South Korea's population problem, including the birth rate, population aging and migration policies.

The measures outlined today by Yoon include increasing subsidies for paternity leave and extending paternity leave so that 50% of South Korean fathers take advantage of the law (currently only 6.8% take the leave period).

The President of South Korea also spoke about more flexible working, the increase in after-school programs in primary schools, giving priority to families with newborns in access to housing and low-interest mortgages and more tax exemptions for families with minors.