South Korea combats low birth rates with financial incentives

Summary: South Korea faces a demographic crisis with a fertility rate of 0.72 in 2023, projected to drop to 0.68 in 2024. Booyoung offers workers a $75,000 bonus per baby to combat the issue. The country's GDP is expected to decrease by 28% by 2050 due to an ageing population. Financial incentives and corporate initiatives aim to boost birth rates, but societal pressures and attitudes remain significant obstacles.

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