(PatrioticPost.com)- South Korea is facing a population implosion as its birth rate has fallen far below replacement levels. In an effort to combat the country’s dangerously low birth rate, South Korean lawmakers have proposed tripling the current monthly “parent pay” to 1 million won, or about $740 a month, for every newborn child.
According to a report in Bloomberg, the $740 monthly payment would be reduced by half once the child turns one. Once the child turns two, the payments stop entirely.
Birth rates falling below replacement levels is the death knell of a country. Nations can’t survive when an aging generation is not being replaced by a new generation. The economic devastation alone would be catastrophic.
In response to the news of South Korea’s proposed solution, Tesla CEO Elon Musk lauded the plan as important.
Musk, who has long warned of the perils of declining birthrates falling below replacement rates, noted in a tweet that South Korea is on track to lose half its population every generation. He added that longer lifespans can hide “the dire nature of the problem.”
In recent years, many developed nations have seen their birth rates fall below the replacement level of 2.1 births per woman while others are coming perilously close.
Last year, the US population grew at its slowest rate in history. In 2021, the birth rate in the United States dropped below the replacement level to 1.781 births per woman.
Only 17.8 percent of the country’s 130 million households include married parents with children, down from more than 40 percent in 1970.
Elon Musk has been an outspoken critic of those fearmongering about “overpopulation.”
In a conference last year, Musk argued that the greater risk to civilization is the “rapidly declining birth rate.” He rightly noted that civilization would crumble unless people have more children.