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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It will lead to the majority of the population being old. This will mean that the government will have to pay more and more money for their pensions and this means that they will either have to: increase taxes, increase the retirement age. The lack of people in their prime working age in SK will mean that there will only be a few people who are actually fit enough to do particular jobs safely (manual labour).
Basically it means that SK’s economy will decrease and it will need immigration to keep their country alive. (this may not be completely accurate as it is just what I know)
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