SEOUL: The Republic of Korea will launch a new ministry of population strategy to address low birth rates and a rapidly ageing population, which have emerged as some of the starkest challenges facing the country, Yonhap News Agency reported Monday.

Once established, the new ministry will focus on strategy and planning for demographic issues, such as low birth rates, population ageing, workforce and immigration, serving as the control tower for these matters.

The ministry will also be responsible for drawing up population policies and mid- to long-term strategies, taking over the tasks currently managed by the health and finance ministries.

It will also be in charge of allocating and coordinating budgets for combating low birth rates across various related ministries, officials said.

Source: Emirates News Agency