South Korea’s birthrate last year declined for the first time in four years, according to data released by the Health Ministry.

The country’s fertility rate fell to 1.19 children per woman last year, which is equivalent to that in 2008.

The rate fell even lower in 2009, which was 1.15. However, the number rose from 2010 to 2012, from 1.23 to 1.24 to 1.30. It fell back to 1.19 last year.

The ministry said the nation’s fertility rate last year falls short of the replacement level ― 2.1 children per woman ― meaning people are not reproducing fast enough to replace the number of people dying.

The so-called “sampo” generation ― young Koreans who give up dating, marriage and having children because of financial instability stemming from the cost of education and housing ― is what maintains the country’s birthrate at a critical level, researchers say.