South Korea birth rate squeezed by entrance exam pressures: central bank

SEOUL -- The Bank of Korea on Tuesday called for an overhaul in South Korea's hypercompetitive university entrance exam, linking it to the rapid decline in the country's birth rate and the concentration of people in Seoul.

Each year, high school seniors in South Korea take a nationwide college entrance exam in hopes of gaining a spot at top schools like Seoul National University and Yonsei University. The intense pressure surrounding this process is driving more families to Seoul, raising the cost of education and housing and discouraging young Koreans from marrying and having children, the bank said in a proposal.