The Budget Policy Office of the South Korean National Assembly released a report on the outlook for the population situation on the 24th. The report calculates the total population based on the premise that the total fertility rate remains at 0.7 and does not rebound. The results show that the total population in 2040 will be 49.16 million, a decrease of 5.17% compared to 2020 (51.84 million). The report points out that population decline mainly occurs among people under the age of 15. In 2020, the population of children under the age of 14 was 6.32 million, and by 2040, it had significantly decreased by 49.6%, almost halving to 3.18 million. Especially, the population of infants and young children under the age of 6 is expected to significantly decline from 2.63 million in 2020 to 1.3 million in 2040, a drop of over 50%.