South Korea is undergoing a prolonged period of ultra-low fertility and rapid population ageing, coupled with accelerating regional decline. This situation requires a shift in policy towards a comprehensive approach that addresses population size, structure, and migration, while responding to both the long-term fertility crisis and the short-term transition to a shrinking society.
This study identifies structural limitations in the current framework, including fragmented fiscal management, inefficiencies across ministries and limited governance capacity for coordination. The study proposes restructuring low fertility policies through a strategic review of expenditure, emphasising the need to reform governance to enable the integrated management of population-related finances and the establishment of a coherent fiscal strategy.