Michael Kremer, a professor of economics at the University of Chicago and Nobel economic prize laureate, suggests immigration as a solution to South Korea's population problem. Allowing special visa programs for non-nationals to engage in care work would have a positive effect on the economy with few side effects.
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The argument is that opening up immigration for occupations like household work and care work would help increase the overall labor force and allow women to enter the labor market free from the burden of childcare. Kremer explained that while some argue that there is a cost, if women who have had career breaks due to caregiving are able to work, it could lead to increased fiscal revenues, including tax generation.