South Korea Will Give New Parents $770 a Month to Have a Child

South Korea has the world’s lowest fertility rate. The average South Korean woman will have 0.78 babies in her lifetime. While the average fertility rate in OECD countries is 1.59. South Korea’s population is shrinking as a result. More people die each year than are born. Left unchecked, the country’s working-age population will almost halve by 2070. Globally, the fertility rate is declining it stands at 2.3 today. In 2000 it was 2.7. The UN predicts the global population will peak at 10.4 billion by 2080, but a recent study suggests the peak could be much lower and could arrive much sooner.