Former minister mulled as new head of presidential committee on birthrates

The leadership change in the Presidential Committee of Aging Society and Population Policy is seen as a significant overhaul pushed by the president's office to foster a more assertive approach to addressing the ongoing fertility crisis.

A nursery room at a hospital in Seoul in 2019. Declining fertility rate has been a major concern in Korean society. [YONHAP]

Former Minister of Trade, Industry, and Energy Joo Hyung-hwan is reportedly being considered to lead the presidential committee tasked with addressing Korea's low fertility rates.

The leadership change in the Presidential Committee of Aging Society and Population Policy is seen as a significant overhaul pushed by the president's office to foster a more assertive approach to addressing the ongoing fertility crisis.

President Yoon Suk Yeol is reportedly concerned about the committee's lackluster performance, including implementing measures.

“Joo is regarded as a strong candidate who could effectively implement measures to boost the low fertility rate,” said a high-ranking official at the president’s office, who requested anonymity.

If selected, the former minister would become the third person under the Yoon Suk Yeol administration to lead the presidential committee on low birth and aging population.

The former minister’s predecessors include the former head of the conservative party, Na Kyung-won, and social welfare professor Kim Young-mi.

Na failed to complete her two-year tenure after conflicting with the president’s office over running for the People Power Party’s leadership in 2022.

Social welfare professor Kim, too, is replaced, she would likewise have been unable to fulfill her tenure as she was appointed in January 2023.

The anticipated change in leadership coincides with the president’s office aiming to devise practical solutions for the country's low fertility rates.

In his New Year’s speech this year, President Yoon emphasized the necessity of adopting a different approach to address the crisis.

The effectiveness of the government’s measures has come under scrutiny, especially considering that nearly 380 trillion won ($285 billion) has been invested over almost two decades since 2006 to address the low fertility rate.

The country is currently facing a crisis as its fertility rate, representing the number of children women aged between 15 and 49 are likely to have, continues to reach record lows.

The fertility rate, which stood at 1.48 in 2000, fell to 1.23 by 2010 and a world-record low of 0.78 in 2022.

Korea’s fertility rate has been below 1.0 since 2018.

This year, the situation is expected to worsen, with the fertility rate projected to hit a record low of 0.6 in the fourth quarter.

Statistics Korea estimates that at the current rate, the Korean population could potentially decrease from today's 51 million to 36 million in half a century.

According to an earlier report by JoongAng Ilbo, upon receiving the measures from the committee earlier this month, President Yoon told his staff to review the possibility of changing committee members if deemed necessary.

However, the committee said that it also encounters challenges in formulating measures as it depends on other government offices.

“As we lack the authority to request budgets, the policies formulated by the committee must align with the demands of the relevant government department,” said a committee member who requested anonymity.

As the general election approaches, the President's People Power Party and the Democratic Party have competitively unveiled promises to improve the low fertility rate, including addressing housing problems and economic challenges for the younger generation.

Under these circumstances, the president’s office believes that the time for experts to study the situation and consider measures has passed.

Former Minister of Trade, Industry and Energy Joo Hyun-hwan at the government complex in Sejong in 2017. [YONHAP]

Joo is a longtime bureaucrat who served as the vice finance minister before heading the Trade, Industry and Energy Ministry during the Park Geun-hye administration.

He also served as Park’s secretary on economy and finance.

As head of the Ministry of Trade, Industry, and Energy, Joo engineered a turnaround in Korean exports after two years of decline.

He is known for vigorously pushing policies.

BY KIM KI-HWAN, LEE HO-JEONG [lee.hojeong@joongang.co.kr]