Seoul, South Korea – The number of newlywed couples in South Korea has fallen below one million for the first time since 2015, according to the latest data released by the Statistics Korea. The decline is attributed to a combination of factors, including the country's prolonged low birthrate and economic challenges.
The 2023 Newlywed Couple Statistics report revealed that there were 974,000 newlywed couples in South Korea last year, marking a 5.6% decrease from the previous year. This continuous decline underscores the growing trend of delayed marriage and fewer marriages overall.
While the number of first-year newlyweds increased by 2.9% in 2023, likely due to a rebound in weddings following the COVID-19 pandemic, the overall trend remains downward. The data also showed that the proportion of newlywed couples without children reached a record high of nearly 50%, highlighting the challenges faced by young couples in starting families.
Key findings from the report include:
Declining fertility rate: The average number of children per newlywed couple decreased to 0.63, the lowest on record.
Rising housing costs: The proportion of newlywed couples owning their own homes increased to 40.8%, but the average debt of homeowning couples also rose.
Dual-income households: While the number of dual-income newlywed couples increased, the overall household income of these couples remained relatively low compared to the rising cost of living.
Experts attribute the decline in newlywed couples to several factors, including:
Economic uncertainty: The high cost of living, particularly in urban areas, has made it difficult for young people to save for marriage and housing.
Changing social attitudes: There has been a shift in traditional family values, with more young people choosing to delay marriage or remain single.
Government policies: While the government has implemented various policies to encourage marriage and childbirth, these efforts have had limited success.
The declining number of newlywed couples poses significant challenges for South Korea's aging population and shrinking workforce. Experts warn that without a reversal of this trend, the country could face a severe demographic crisis in the coming decades.
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