How Policymakers Are Responding to An Ageing Workforce in Japan and South Korea

Abstract

The global decline in fertility has prompted countries to reassess their socio-economic strategies. Specifically, Japan and the Republic of Korea are at the forefront of demographic change, with the ageing of the labour force becoming a growing concern. This study delves into the fertility policies of both countries, aiming to understand the complexity of policy shifts between them. Using a combination of literature review and secondary data analysis, the study reveals the nuances of policy making in the two countries. A thorough exploration of the social consequences of these policies provides a holistic view of their real-world implications. The analyses reveal commendable strengths and apparent weaknesses in the strategies employed by Japan and South Korea. Based on this, the study presents viable recommendations for effective policy transfer, incorporating best practices from both countries. Finally, the study provides a succinct summary of its findings, highlighting the inherent limitations of the research conducted. It also highlights the need for future investigations in this area, laying the groundwork for a more comprehensive study of fertility policies and their long-term social impact.