Men's widening income gap new clue behind Korea's declining birthrate

The Korea Times

The Korea Times

Lifestyle

Mon, October 2, 2023 | 21:16

Trends

Men's widening income gap new clue behind Korea's declining birthrate

Posted : 2023-05-15 08:41

Updated : 2023-05-16 10:08

Amount of wage is a clear indicator behind likelihood of Korean men choosing to either get married and have children or stay single, according to a recent study released Sunday. Gettyimagesbank

By Ko Dong-hwan

How confident a working male in Korea is with his wallets or bank accounts happens to be a clear boost to their decision to score wedlock, a recent study by a state-run researcher found. In other words, those lacking financial security are more likely to see themselves as better off staying single ― directly resulting in lowered chances for people to meet, get married and have babies.

The research outcome released by the Korea Labor Institute on Sunday showed this trend became more pronounced as men got older. The research on the relationship between employment and intention to procreate shows the growing risk of an income gap among Korean men might be a major factor.

Despite the steady improvement in working conditions for men compared to the past, the country has been witnessing a declining number of marriages, according to Kwak Eun-hye from the institute who penned the report. She suggested that lawmakers come up with new policies to mitigate the widening income gap and resolve unfair capital distribution among Korean men, in order to to resolve the country's worsening low birth problem.

Based on domestic statistics from 2017 to 2019 ― excluding 2020 and later to eliminate pandemic-related variables ― the institute compiled numbers to compare the rates of male workers choosing to get married in different age groups with their income levels. Among those in their mid- to late 20s, only 8 percent of the men at the bottom 10 percent income bracket got married, compared to 29 percent of those in the top 10 percent doing so.

In four older age groups in 30 to 34, 35 to 39, 40 to 44 and 45 to 49, the gap in marriage rate widened. The bottom 10 percent were represented by choosing-to-wed rates of 31, 47, 58 and 73 percent, while the top 10 percent were at 76, 91, 96 and 98 percent. The figures show that more men with high incomes are getting married as they age, whereas men with low incomes increasingly stay single.

"With legal supports to prevent the widening income gap from widening further among men, the country's chronic double problems of low marriage and low birth rate will certainly be mitigated," Kwak said.

aoshima11@koreatimes.co.kr