South Korean President Yoon Suk-yeol has announced the creation of a new government ministry to tackle the country’s extremely low birth rate, which he has called “a national emergency,”.

The new ministry will “establish policies that span education, labour and welfare” to address the problem, Suk-yeol said.

South Korea saw a 0.72 fertility rate in 2023, the lowest in the world and far below the 2.1 that is required to maintain its population.

Just 230,000 babies were born last year in the country, which has a population of 50 million.

South Korea has spent more than $200 billion over the past 16 years to address the declining birth rate with no success. Initiatives have included extended paid paternity leave, social campaigns encouraging male participation in child care and housework, and even “baby vouchers” that offer monetary incentives.