Yoo Hyemi, Low Birthrate Chief, "Social Perception Issue of Mothers as Primary Caregivers"

Presidential Office: "Rapid Population Decline Negatively Impacts Growth and Finances"
"Utilizing Foreign Workforce as an Option to Expand the Working-Age Population"
Accelerating Preparations for Launching the Population Strategy Planning Department

Professor Yoo Hyemi of Hanyang University’s Department of Economics and Finance, who was appointed as the new Chief of Low Birthrate Response at the Presidential Office, is speaking about her thoughts at the announcement of political appointments held on the 25th of last month at the Presidential Office building in Yongsan, Seoul. [Image source=Yonhap News]

Yoo Hyemi, the inaugural Senior Secretary for Low Birthrate Response at the Presidential Office, pointed out on the 21st that "the social perception that the primary responsibility for childcare lies with the mother is the problem."

On the same day, Yoo appeared on KBS Radio and, when asked what is the most difficult aspect of being a 'working mom in her 40s,' she said, "(Society) thinks that while working, taking care of children is the mother's responsibility, and I am no exception." Yoo, a professor at Hanyang University's College of Economics and Finance, is a macroeconomist and a working mom of twin sixth-grade elementary school boys.

Yoo expressed, "It is difficult to do both (work and childcare) 100%," adding, "I felt like there were gaps in caring for my children, and I also felt like I couldn't give 100% at work, which sometimes led to feelings of frustration and guilt on both sides." She continued, "Since I am a university professor, I was able to respond relatively flexibly, but it would be even harder for workers who have fixed working hours. Most people face difficulties balancing work and family, so I believe addressing these issues is a part where I should contribute and make efforts."

Yoo conveyed that President Yoon Seok-yeol has a very strong will to address the low birthrate issue. "President Yoon recognizes how important and difficult the low birthrate issue is," she said. "When I first met him, he said, 'This problem is as difficult as solving ten combined math problems, and if you solve it, you deserve a Nobel Prize, but still, let's not give up and work hard to do well.'"

Professor Yoo Hyemi of Hanyang University’s Department of Economics and Finance, who was appointed as the new Chief of Low Birthrate Response at the Presidential Office, is speaking about her thoughts at the announcement of political appointments held on the 25th of last month at the Presidential Office building in Yongsan, Seoul.
[Image source=Yonhap News]

In particular, Yoo emphasized that not only the low birthrate response but also the rapid decline in the working-age population requires active measures as it affects society as a whole.

She pointed out, "In about 50 years, in 2072, South Korea's population is expected to decrease by about 30%, and the proportion of the elderly population will be higher than the working-age population," adding, "I am skeptical whether the current system will operate as it is under such circumstances." She also stressed, "Now is a critical time to explore how to secure future competitiveness even as the population declines."

"When the population reaches 30 million, growth potential will be curtailed"

When asked what changes would occur when the population reaches 30 million, she predicted, "The important change is that it will have a negative impact on growth and fiscal health," and "growth potential will be curtailed." Yoo explained, "To grow, labor as a resource is needed, but as the workforce decreases, production declines. New ideas come from talented people, which form the basis of innovation, but as the talent pool shrinks, it becomes harder for ideas to emerge. This damages growth potential."

She added, "With rapid aging, the fiscal burden to support the elderly increases, pushing us into an unmanageable crisis," urging, "We need to respond to these important and serious changes."

Yoo cited the utilization of foreign labor as one solution to the decline in the working-age population. She explained, "In a situation where the working-age population is rapidly decreasing, utilizing foreign labor can be one option to expand the population. Currently, the Employment Permit System is in place, and foreign labor significantly contributes to addressing short-term labor shortages. However, it is necessary to comprehensively examine how to utilize and attract foreign labor in the mid to long term, and how attractive our country is as an option from the perspective of foreigners."

Yoo stated, "The Population Strategy Planning Department must be launched quickly to proactively lead not only the response to the low birthrate crisis but also strategies to enhance future competitiveness amid demographic changes," adding, "There are many disagreements between the ruling and opposition parties on some bills, but I understand that the amendments to the Government Organization Act and the Basic Low Birthrate Act are relatively few." She continued, "I hope the ruling and opposition parties can compromise and pass them sooner. Once the laws are passed, the department will be launched within three months, and we are accelerating preparations assuming the population department can be approved at any time."