Abstract: South Korea has faced a steep fall in birth rates over the past few decades. Total fertility, defined as the average number of children a woman is expected to give birth to during her lifetime, stands among the lowest rates in the world. And it is far below the replacement rate level of 2.1 needed to maintain a stable population. This is alarming, particularly in the context of a nation that, during the mid-20th century, saw very rapid population growth coinciding with equally rapid economic growth. It is a state of affairs that poses a significant threat to South Korea’s development, stability, and living standards if left unchecked. The demographic effects could represent significant challenges for South Korea’s economy by impacting the supply of laborers across many industries, social welfare regarding support systems, South Korea's Birth Rate Decline: Impacts on Workforce, Welfare, and Economic Stability Junewon Suh and possible economic contraction or tepid growth. This paper studies South Korea’s birth rate trends and analyzes their effects on the country’s economy. This paper explores South Korea’s birth rate trends and their economic implications, focusing on: (1) Historical patterns and fluctuations in birth rates, (2) Factors driving the decline in birth rates, (3) Economic impacts, especially on the workforce, pensions, and social support systems, (4) Public policy responses and potential legislative solutions to mitigate the issues arising from low birth rates. As South Korea confronts a shrinking and aging population, this study emphasizes the importance of understanding the economic effects of a fertility rate below replacement level. It identifies actionable strategies to address this demographic challenge.