I would like to extend my hearty welcome to all of the distinguished guests to the ‘1st Seoul

Population Symposium’ co-hosted by the ‘First-Class Economic daily’ Financial News and the

Seoul Population Forum. My special thanks also go especially to Seungjo Yang, the chairman

of the National Health and Welfare Committee, Neunghu Bak, the Minister of Health and Welfare,

Gyeongwon Na, the former Chairman (member of Liberty Korea Party) of the Policy Measures

against Low Fertility and Population Aging in Korea, and Fabien Penone Johan, the French

ambassador, who came and participated in the symposium.

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These days, a lot of people talk about ‘Demographic Cliff’. Our neighboring country Japan has

already entered an era of Demographic Cliff in which the population declines. Specialists say

that Korea will soon follow Japan also. Harry Dent, an American expert in population, forecasts

that “Korea will be the last developed country to fall off the Demographic Cliff after 2018.

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Indeed, there are signs of uneasy indications if you look at the statistics regarding childbirth.

Last year, the total birthrate was only 1.17 remaining at the lowest in the world. This year, it is

expected to drop even more to 1.03. I am worried that the birthrate will fall below 1.

Various problems occur when population declines and aging gets worse. There is no vigor in a

house where laughter of the children is not heard. Similarly, the national economy also loses

vitality. Motani Kosuke who wrote the bestseller ‘The Real Face of Deflation’, compared the

decrease in population to the escalator going down. It is not easy to go back up on an escalator

that is going down. If you were to stop walking for a moment, you would slip down. The Japanese

economy is in such a situation.

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According to an article that was recently sent by a correspondent of Financial News in Tokyo,
Suhun Lee, the newly appointed ambassador to Japan, proposed a preparation plan for both
countries to jointly deal with the problem of low fertility and aging problems. I think it is a timely
proposal which could give help to both countries.

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Fortunately, Moon Jae-in administration is promoting the task of overcoming low fertility as one

of the top 100 government projects centered around the Presidential Committee on Aging Society

and Population Policy. As the will of the President and the government is strong, we expect to make

a breakthrough so that we can circumvent the Demographic Cliff.

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The Seoul Population Symposium which is held today under the theme ‘the Demographic Cliff

and the Future Crisis-Change of Economic Paradigm and Response’ with domestic and

international experts and it will be a place of high-level discourse to find solutions for low fertility

and aging problems. I hope that this event will help to solve the difficult population problem that

we are facing, and I look forward to your interest and kind attention to this symposium.