Also in several counties and cities, and some parts of Busan and Seoul the fertility rates have reached 0.30 children per woman (And still falling quickly nationwide). How bad and severe this is for SK?
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You’re in the US?
Well people keep talking about how when they retire, they’ll get money from social security.
The idea is that when you’re working from age 18-62, you pay into social security. By the time you retire at 62, you start getting payment from that account that you’ve been paying into.
That’s false advertising!
The payment you make from 18-62 is for the people that are already retired. When you retire, your money will come from the younger generations that are still working.
Meaning that by the time you retire at 62 and there’s not much young people in the working force contributing to the social security fund, then there’s not gonna be any money for you.
This is the US system, and in some way/shape/form, it’s similar to other countries like SK. Not limited to retirement, but the contribution to the community/society like, who’s going to be operating the metro, picking up your home trash, repairing the roads, etc. if there’s not enough people to take on those roles
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