How is South Korea responding to the collapse in its fertility rate?

The fertility rate for South Korean women fell to 0.7 in 2023. How have companies and the government in South Korea reacted to this drastic fall in the birth rate and the decline in the working-age population? We look at: R&D spending; The degree of industrial automation; The level of investment in new technologies; The quality of the education system; And lastly, we examine whether the increase in productivity gains can, for the time being, offset the decline in the labour force. Productivity gains in South Korea have fallen sharply (from 4% a year until 2010 to 1.4% a year since 2011), but they are far from having completely disappeared, as they have in Europe.