"Low Birthrate and Aging Population, the Greatest National Challenge"
"Must Enable Work and Childcare to Coexist"
Lee Jeong-sik, Minister of Employment and Labor, recently emphasized the need to guarantee 'work-life balance' due to the risk of declining birth rates caused by the difficulty of balancing work and childcare amid the increase in women's employment rates.
On the 19th, during an appearance on KBS Radio's "Jeon Jong-cheol's Jeonggyeok Sisa," he stated, "The economic activity participation rate of employed women has increased. This is very encouraging, but there is a problem that the birth rate decreases as the female employment rate rises." He analyzed, "Looking at the employment status of women in our country's labor market, there is an 'M-shaped curve.' It is difficult to balance work and childcare, so women find jobs and work during their unmarried years, but they exit the labor market during childbirth and childcare."
He continued, "After raising their children, they re-enter the labor market. Therefore, when looking at the increase in employed persons by age group, there are many in their late 40s and older after raising their children." He explained, "The fields they mainly work in after re-entering the labor market are areas such as health and welfare services."
Minister Lee stated, "The low birthrate trend, along with aging, is the greatest national challenge facing Korean society." He explained, "If there are not enough working people, the growth rate will decline, and economic vitality will decrease due to aging. If productivity and growth potential decline, the pie will shrink, leading to fierce competition. It is a vicious cycle."
He added, "The key solution to the low birthrate problem is balancing work and childcare," emphasizing, "The main focus of the Ministry of Labor's policy is work-life balance that allows for both work and childcare."
Minister Lee emphasized, "It is important to have a social and organizational culture where couples share childcare without feeling pressured, and where work and life can be balanced." He stressed, "It is absolutely important to reduce working hours and have government policies that allow flexible use of that time." He added, "We plan to provide policy support in taxation and finance along with incentives and to conduct social campaigns."
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