DINK’s and Debt Describe South Korean Couples

Here is the life most young South Korean couples have:

Korea’s newlywed couples were burdened with record-high amounts of debt last year while having the least number of babies in history. The number of married couples also decreased by 6.3 percent to 1.03 million in 2022 compared to the previous year, according to Statistics Korea on Monday. 
  
The statistics agency polled the country’s newlyweds whose marriage registration is less than five years old as of November last year.   
  
The median debt for respondents came to 164.2 million won ($124,600), up 7.3 percentage points from a year ago, with 89 percent of the surveyed couples in debt.

More newlyweds in Korea are falling into the category of DINK (Dual Income No Kid). The majority, or 57.2 percent, of the newlyweds have a dual income, up 2.3 percentage points on year. 
  
The proportion of dual-income households is on the decline with many females quitting their jobs to concentrate on child-rearing. 
  
The average income of dual-income couples stood at 84.3 million won compared to a single-income household with 49.9 million won. 
  
As for children, 46.4 percent of the surveyed couples had no child, marking the highest rate since the data was collected.  

Joong Ang Ilbo

You can read more at the link, but racking up records amount of debt before having kids is a sure way to keep the birth rate low because kids will greatly add to expenses. If the Korean government can find ways to relieve the debt crisis they will likely solve the birth rate crisis at the same time.