South Korea's Declining Birth Rate

The rate at which new babies are born in a country. It's a key indicator of a country's population growth.

A generation is a group of people who share a similar age and often have similar experiences and beliefs. Generation Y refers to millennials and Gen Z is the generation born after the late 1990s.

A trend in which young adults focus on their own personal success, often in terms of career, material possessions, and social status, rather than traditional family goals.

A period in which a central bank raises interest rates to slow down economic growth, often done to control inflation.

Spending more money than you earn, and not saving enough for the future. It can be a common characteristic of young adults who focus on immediate gratification.

The price increase, although significant, did not deter customers from enjoying the all-you-can-eat strawberry dessert at the Dragon City Hotel in Seoul.

South Korea is a global hub for luxury brands, with popular K-pop groups serving as brand ambassadors for Chanel, Celine and Dior.

Financial worries are a major factor in the declining birth rate in South Korea.

According to a survey, job insecurity and high education costs contributed to the decision of South Koreans to not have children.

South Koreans in their 20s and 30s saw their annual incomes increase at a slower rate than the national average last year.

The percentage of their income that people save.

People in their 30s are saving less of their income than they did five years ago, while other age groups are saving more. This suggests a shift in financial priorities for this demographic.

Spending by people in their 20s and 30s on luxury items and travel has increased significantly, indicating a rise in discretionary spending and a focus on lifestyle experiences during these years.

Revenue at expensive buffet restaurants has grown substantially, highlighting an increasing demand for high-end dining experiences by consumers.

The rise in spending on luxury goods and experiences reflects a pattern of increasing demand for high-quality, premium products and services, particularly among younger generations.