South Korea’s number of newborns increased by 3.6% last year, rebounding for the first time in nine years. The growth is attributed to the large cohort of people born in the 1990s, who are now starting families, as well as expanded government support policies, such as special newborn loans. However, the total fertility rate remains at 0.75, still less than half the OECD average of 1.51.
According to Statistics Korea on Feb. 26, the number of births last year reached 238,300, up by 8,300 from the previous year’s 230,000. This marks the first year-on-year increase in births since 2015, when the number rose by 3,000. The total fertility rate, which represents the average number of children a woman is expected to have over her lifetime, also increased slightly from 0.72 to 0.75.
The increase in births last year is mainly attributed to people born in the 1990s—when annual births averaged around 700,000—now reaching their prime childbearing years. The birth rate among women aged 30-34 (born 1990-1994) rose to 70.4 per 1,000 last year, up from 66.7 the previous year, surpassing the 70 mark for the first time in two years. Notably, the number of firstborns increased by 7,700 to 146,100.
Government policies supporting childbirth, such as special loans for newborns and priority housing allocations for families with newborns, have also played a role. The special newborn loan program offers low-interest home loans (around 1%) of up to 500 million won to couples struggling to secure housing. Between January and September last year, total loan disbursements under the program reached 5.5 trillion won.
By region, Sejong City and South Jeolla Province recorded the highest total fertility rates at 1.03, followed by North Gyeongsang (0.9) and Gangwon (0.89) provinces. In contrast, Seoul (0.58) and Busan (0.68) had the lowest rates. Sejong, which had fallen to 0.97 in 2023, rebounded above 1.0 for the first time in two years.
The number of deaths rose to 358,400 last year, up 5,800 year-on-year. Deaths among those aged 90 and older increased by 3,800 to 61,200, while deaths among people in their 50s rose by 600 to 25,800. In contrast, deaths among those in their 80s declined by 400 to 132,600.
With deaths outpacing births, South Korea’s population shrank by 120,000 due to natural decline, marking the fifth consecutive year of decrease since 2020. Sejong was the only region to see population growth, while the other 16 provinces and cities experienced continued declines.
