Low South Korean birth rate raises fears Forced to decide between giving her daughter siblings, or an expensive education, Hong Sung-ok saw little choice. "I can't afford not to send my child to private tuition, because everyone else does," says the 47-year-old insurance saleswoman. I spend more than half my income on tutors and childcare expenses - it's really expensive . . . That's why I decided to have only one child. Ms Hong's decision is the new norm in South Korea, where the fertility rate has fallen to the lowest level in the developed world. The country had a birth rate of 1.2 children per woman in 2010: even China, with its long-established one-child policy, had a rate of 1.6. The phenomenon has provoked growing consternation at the demographic implications, with South Korea predicted to age more rapidly over the next 40 years than any other country. This could have a damaging impact on productivity and fiscal stability: the ratio of workers to elderly people is on course to fall from 4.5 to 1.2 by 2050, according to the OECD, the Paris-based group of countries which tries to promote stable economic growth. "Korea is quickly turning into an aged society," says Kwon Young-sun, an analyst at Nomura. Mr Kwon says the low birth rate is linked to a strong cultural emphasis on education: about three quarters of high-school students have private tuition and a similar proportion go on to university. Parents worry that their children will struggle to find a good job, or even a suitable spouse, without a degree - and the steep associated costs discourage many from having more than one child. Education costs are a big contributor to South Korea's soaring household debt, one of the heaviest burdens in the world at more than 160 per cent of income and a major drag on domestic consumption. Park Geun-hye, elected last month as the country's next president, has promised to tackle the problem by expanding state provision of childcare, and halving tuition fees. But critics say the latter measure will only increase the proportion of children going to university: a trend blamed for contributing to graduate unemployment of more than a fifth, as many university leavers hold out for a job befitting their qualifications rather than take an unskilled role. The government has tried to weaken the perception of university education as a prerequisite for success. It put pressure on big companies to hire more non-graduates, and opened 21 "Meister" high schools where pupils are given technical training for specific fields such as shipbuilding and semiconductor manufacturing. But even optimists admit it will take years to change perceptions: a government study two years ago found that 93 per cent of parents expect their children to attain at least a four-year university degree. It's a very competitive society - sometimes too competitive Lee Jong-wha, economic adviser to president "It's a very competitive society - sometimes too competitive," says Lee Jong-wha, an economic adviser to Lee Myung-bak, the departing president. Up to secondary school level, South Korea's education system is world-leading - its 15-year-olds came first in the developed world in literacy and maths, and third in science, in a 2010 study by the OECD. But the same body warns that the proliferation of universities resulting from surging demand has "inevitably led to some deterioration in the quality of Korea's tertiary sector, which does not score high in international rankings." The OECD recommends that the state concentrates public funding on the highest-ranked universities. But according to Mr Lee, who will soon return to a position in academia, a broader change of approach is needed. "If you attend classes here, there's virtually no discussion at all," he says. The professor speaks for 99 per cent of the time, and there's no question-and-answer. I'm not saying we need to switch to a western education system - ours continues to produce good-quality students - but as our wider industry structure becomes more innovative and technology-focused, it requires graduates with creative ability. Beyond the economic concerns, some worry that young people are being burdened with excessive expectations and spending too much of their childhood in the classroom. "Students at all levels are suffering from stress," says Lee Young-tak, an official at the Korean Teachers" Union. "The system puts too much emphasis on college admission and it does not nurture students" talents." Additional reporting by Jung Gu-hun