Last year, the number of newborns dropped to a record low despite concerted efforts to tackle the problem.

The number of babies born in all of 2017 reached 357,700, down 11.9 percent, or 48,500, from a year earlier.

That figure was the lowest number of newborns tallied since the statistics agency started to compile such data in 1970.

The crude birthrate, which refers to the number of births per 1,000 people, also came to an all-time low of 7 last year, down from the previous year's 7.9. 

In addition, the total fertility rate, or the number of babies that a woman is projected to have during her lifetime, fell to 1.05 last year from 1.17, also marking a record low, the data from the statistical agency showed.

Coupled with a rapidly aging population, a low birthrate reduces the available workforce in the country and drive up welfare costs. Such a development can seriously undermine economic growth potential.

The South Korean government has poured 80 trillion won ($74 billion) into dealing with the low birthrate in the past decade, including measures to encourage people to have more children by offering various incentives, such as cash rewards.

Meanwhile, the number of deaths came to 81,800 in the first quarter, up 12.1 percent, or 8,800, from a year earlier. (Yonhap)