Why is the global birth rate declining? Even a rich country like South Korea has the lowest birth rate in the world where the average woman has only one child.

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The World Bank says that the global birth rate has been decreasing for more than 50 years since 1964.

https://data.worldbank.org/indicator/SP.DYN.TFRT.IN

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There is a strong corellation between education and birth rate (for woman).
So the more educated one is, the more they focus on work and reaching goals there and the desire for more kids decreases.
Also, you dont “need” a lot of kids in order to care for you when youre old. That also ties in there.

Advancement of women’s rights means better bodily autonomy for women across the world, and it turns out a lot of women don’t actually want to have 6 children. Improved equality in the workplace has meant that women can earn on parity with men. But the side effect of this is that childless couples can easily out earn couples with children. That makes the cost of each child in developed countries go up (increase housing cost), makes couples delay having children, and makes being childless more altogether more attractive. And all of that lowers the birthrate.

You need donuts to have kids because kids eat your donuts. if all the donuts are held by a few, that means you have less donuts. if you feel insecure about keeping enough donuts for yourself, you will avoid having kids which will make you lose donuts.

there is no single reason, but a collection of contributing factors

personally, i think the most significant factors is under-regulated/unregulated capitalism. The goal to maximize profits leads to wage suppression and disproportionate accumulation of wealth, which fuels the general population to prioritize that ability/opportunity to maximize their own profits over other priorities. Leading to children becoming/coached into being ultra focused on education, leading to the young adults focused on education and work, and most adults in trying to maximize their current position or advance

all resulting in less social connections and delaying/abstaining from childbearing.

Female education is rising, which has a massive impact on the birth rate, females realise they can do more than just give birth to a succession of children and do things outside of childbirth.

Because kids are horrible and it’s becoming more and more obvious to us that the previous generations’ mad drive to procreate doesn’t actually lead to happiness so a lot of people are just not doing it. It’s not for everyone, it’s just been shoved down everones throats for centuries.