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Low birthrate casts bleak prospects for Korea's preschools and economic productivity

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"한국이 늙어간다"…문닫는 어린이집, 어두운 경제성장전망 It's often said that children are the future.But the chronically low birthrate in Korea casts a bleak outlook for the economy as the significant decrease of prospective workers could lead to lower productivity.Oh Soo-young sheds light on the issue. This nursery in central Seoul, like many others around it,... has seen student numbers slump to an unprecedented low.It had to cut an entire class this term -- but this nursery is actually one of the lucky ones. Recent statistics show more than one thousand nurseries have closed every year in Korea since 2014. "It's my 11th year here and we've never had to cut an entire class before. Many private nurseries are shutting down and their staff are seeking other jobs as there simply aren't enough kids." Korea's fertility rate -- the number of children a woman has in her life -- fell to a record low last year,... at one-point-one-seven.It's been at the bottom of the OECD rankings since 2013. Meanwhile, the number of elderly citizens is growing fast -- set to exceed 14 percent of the population this year.By 2025, the country is expected to surpass the 20-percent threshold of a hyper-aged society,... and 40 percent in 2065. This is a deeply troubling prospect for the Korean economy-- as there will be fewer people in the working-age bracket to sustain productivity,... as well as to support a swelling pool of pensioners. Projections show there may be almost 20 million fewer people in the workforce by 2065. "The demographic time bomb is ticking. Many believe the government's efforts to boost the birthrate have proven ineffective. Experts say the public and private sectors must quickly figure out how to keep the economy growing -- with fewer workers to turn the wheel." "Small and mid-sized manufacturers must quickly automate their processes and invest more in machinery and capital- as they are already suffering labor shortages. The government must also provide quality education. Let's say the number of workers halves. If we double the quality of input among the younger generation through education, we could sustain productivity and ease the burden of supporting the elderly." Experts say longer life expectancies can also boost productivity.Through retraining and lifelong education, provided by both the public and private sectors,... senior citizens can learn new skill-sets to stay economically active -- particularly in the service and social sectors.Oh Sooyoung, Arirang News.

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arirang tv korea korean vod youtube kpop news arirangtv song culture issue below depressed flat little small bottom crouched deep inferior junior level lowering minor prostrate shallow squat stunted subsided sunken beneath bottommost decumbent ground-level lesser low-hanging low-lying low-set nether not high profound rock-bottom squatty subjacent under unelevated big enormous huge immense important large raised above cheerful decent elevated gay happy healthy high honest honorable increased moral prominent respectable rich strong tall upright well barbarian barbaric base bawdy blue boorish brutish cheap churlish common crass crude dirty earthy filthy foul foul-mouthed gross gruff ill-bred immodest impolite improper impure incult indelicate inelegant loutish low lowbred lowdown and dirty mean nasty obscene off-color offensive raffish raunchy raw ribald rough roughneck rude scatological smutty tacky tasteless uncivil uncivilized uncouth uncultivated uncultured unpolished unrefined vulgar 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worthless useless impotent more efficient most efficient capacity fertility production yield abundance fecundity potency productiveness richness mass production idleness ability adaptability address adequacy capability capableness competence competency completeness economy effectualness efficacy energy expertise facility faculty know-how performance power powerfulness productivity proficiency prowess quantity readiness resourcefulness response skill skillfulness suitability suitableness talent thoroughness copiousness feracity fruitfulness generative capacity gravidity luxuriance plentifulness pregnancy prolificacy prolificity puberty pubescence uberty virility prolificness achievement amount crop gain harvest making manufacture manufacturing producing product profit take turnout efficiencies helplessness incapability ineptness impotence ineffectiveness disability inefficiency lack incapacity weakness incompetence inadequacy ignorance inability efficiency childlessness aridity 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conversation converse declaration directive excerpt goods hot story ideas info inside story language missive note pipeline poop prophecy précis publicity speech summary translation utterance work misinformation deception deceit betrayal opposition discouragement misrepresentation lie falsehood obstruction injury hindrance blockage secret announcements quiet buzz withholding cover Maskhole NEWS News are inactive orangutan rearranged unarranged are wrong art inactive originative am inactive arranged prearranged re arranged un arranged are racked are erect pre arranged air anthem aria ballad canticle carol chant chorale chorus ditty expression hymn lay lullaby lyric melody number oldie opera piece poem psalm refrain rock round shanty strain tune verse vocal golden oldie rock and roll descant song theme cheep chirp cry note peep roar shriek tweet twitter warble Christmas song Noel canzonet madrigal croon incantation intonation lilt mantra shout singing trill bob burden main section motif music recurrent verse response ritornelle undersong call silence Maskhole Song ability art civilization experience fashion perception practice science skill accomplishment address capacity class courtesy cultivation delicacy dignity discrimination dress elegance elevation enlightenment erudition finish gentility grace improvement kindness learning manners nobility polish politeness proficiency refinement savoir-faire tact training urbanity aestheticism good taste ignorance inability inexperience bad manners clumsiness coarseness crudeness harm hurt impoliteness incompetence inelegance ineptness roughness rudeness tactlessness agronomics agronomy culture horticulture husbandry tillage accomplishments acquirement actions atmosphere attainment aura backdrop breeding credentials deeds education environment framework grounding history preparation qualification rearing seasoning tradition upbringing ancestry civility conduct development lineage nurture raising schooling affability amenities amiability attentiveness ceremony chivalry comity complaisance consideration cordiality courteousness courtliness deference familiarity favor friendliness gallantness gallantry generosity geniality gentleness good behavior good breeding graciousness indulgence respect reverence solicitude suavity sympathy thoughtfulness cachet character consequence decency decorum distinction eminence ethics etiquette glory grandeur gravity greatness hauteur honor importance loftiness majesty merit morality nobleness perfection poise prestige propriety quality rank regard renown respectability seemliness self-respect significance solemnity splendor standing state stateliness station stature status sublimity virtue worth worthiness lifestyle knowledge habit society folklore mores customs convention way of life ethnology humanism arts and sciences folkways the arts agriculture tending gardening farming agrology background foreground backgrounds discourtesy unmannerliness neglect unfriendliness meanness disfavor pompousness coolness coldness aloofness thoughtlessness disrespect fear disregard disdain immorality unimportance lowliness worthlessness evil dishonor insignificance indecency Culture Maskhole affair argument concern controversy matter point problem question subject topic contention puzzle matter of contention point of departure agreement harmony cause origin parent source apply apportion authorize bring contribute deal deliver disburse distribute dole out execute extend furnish give impose inflict issue measure out mete out offer perform portion proffer provide regulate serve supply tender causatum chain reaction consequences end eventuality flak impact outcome payoff remainder residual residuum results upshot waves advertise annunciate blast blazon broadcast call communicate declare disclose disseminate divulge drum give out impart intimate make known make public pass the word proclaim promulgate propound publicize publish release report reveal run off at mouth sound off 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