Because I live in South Korea, I wanted to comment on this topic that everyone is mentioning. The fertility rate, “representative of the number of children a woman is expected to give birth to in her lifetime” has been below 1 for four straight years. If a woman has a fertility rate of less than 2, the population does not replenish itself. https://www.asahi.com/ajw/articles/14556684

The Korean government is taking this problem seriously. It was not expensive and we got good care during my wife’s pregnancy. The daycare was free. Later we got an ATM card with some money in it.

The Gwangju Education Office supports some after school programs for my second son.

As the above article mentions, though:

1. There are ‘fundamental issues’ that children growing up here face. The ‘grueling competition’ at school is serious. My oldest son had no one to play with after school. All the kids were in the cram schools. And, those kids’ parents have their children behaving competitively.
2. It is difficult to find employment. You would not expect the children of a nation worried about birthrate to have problems finding employment. But, that is the case.
3. There is a migration to Seoul. The countryside coast where my in-laws live has a serious problem getting young arms to do the labor. Quite a few immigrants are there doing the fishing jobs. They come from places like China, Russia, the Philippines, Nigeria and Vietnam.

Basically, you have a country with a great population density: Korea has 1,366 people per square mile, compared with 94 people in the US. The reaction to this density is understandable – no one wants to have babies in the competitive and crowded environment. So now, there aren’t enough young people to take care of the aging population.