The number of babies born in South Korea fell to the second-lowest level in 2014, a report showed Tuesday, deepening concerns that its low birthrate could sap the country's long-term economic stability.

According to the report by Statistics Korea, some 435,400 babies were born last year, down around 1,000, or 0.2 percent, from a year earlier. It marked the second straight year ofon-year decline and was the lowest since 2005, when around 435,000 babies were born.

Yoon Yean-ok, director of population statistics at the statistical agency, said the drop reflects an overall drop in the number of women in their 20s and 30s.

The average age that a mother had her first born was 32.04 last year, up from the 31.84 years in 2013. Some 22 percent of these mothers were over 35 years of age.

"There has been a steady drop in mothers in their 20s, with more and more women giving birth in their 30s," Yoon said. "This can cause people to only opt for fewer children."

The number of first babies edged up 0.3 percent on-year to 225,400 in 2014, but those of second and third children contracted 0.2 percent and 3.4 percent, respectively.

The total fertility rate, or the average number of babies that a woman is projected to have during her lifetime, reached 1.205 last year, compared with the previous year's 1.187.

The agency said the slight gain is mainly the result of more women in their late 30s having babies.

This is a positive step, although the figure is way below the 2.1 needed to prevent a drop in the population, it said, adding current predictions have indicated that South Korea's population will peak in 2030.

South Korea has one of the lowest fertility rates among members of the Organization for Economic Cooperation and Development.

The latest annual report, meanwhile, is expected to fuel concerns that the country's chronically low birthrate will result in a smaller workforce down the road, eventually hurting the country's economic growth and undermining its growth potential.

An aging population usually results in greater welfare outlays that can endanger the fiscal health of a country. (Yonhap)