The demographic dividend of the Philippines: The case of South Korea’s decline (BW/18 Dec 2024)

BusinessWorld discusses South Korea’s fertility crisis, driven by state-led family planning, women prioritizing careers, and high parenting costs. Despite extensive financial incentives and matchmaking efforts, birth rates remain stagnant due to gender inequality and societal attitudes. South Korea’s experience underscores the limits of economic measures, pointing to the need for cultural and structural reforms to reverse demographic decline.