South Korea records more deaths than births in 2020

South Korea recorded more deaths than births in 2020 for the first time ever, raising fresh alarm in the country which already has the world's lowest birth rate.

Only 275,800 babies were born last year, down 10% from 2019. Around 307,764 people died.

The figures prompted the interior ministry to call for "fundamental changes" to its policies.

A declining population puts immense strain on a country.

Apart from increased pressure on public spending as demand for healthcare systems and pensions rise, a declining youth population also leads to labour shortages that have a direct impact on the economy.