Population Crisis Threatens To Trigger University Closures in South Korea
Summary
South Korea's low birth rate is threatening the sustainability of many universities, as the number of new students is decreasing. This could lead to the closure of many universities, especially those outside the capital, Seoul. The government has spent heavily to encourage more births, but challenges like high living costs and changing social attitudes persist.Key Facts
- South Korea's birth rate is one of the lowest in the world.
- Enrollment of first graders is projected to fall 44% from 2022 levels.
- Approximately 30 universities may close within the next 10 years.
- Universities outside Seoul are expected to be hit harder by closures.
- Government has spent over $200 billion on pro-birth policies since 2006.
- South Korea's population aged 65 and older was over 21% in the recent year.
- A fertility rate of 2.1 is needed for population replacement, but is currently 0.80.
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