The government will reconvene a task force to address the country's population policy this month as it seeks to boost its dismal fertility rate and deal with an aging society.

Finance Minister Hong Nam-ki announced the plan on Thursday during an economy meeting in Seoul.

Hong, who also serves as deputy prime minister, said the fourth task force will draw up measures to cope with troubling demographic trends, including ways to increase the productive population and adapt to a shrinking society. The task force will also examine preparations for a elderly society and possible responses to the nation's low birthrate.

The government had operated the task force since 2019, with three iterations discussing various approaches to cope with the demographic challenges.

Minister Hong added that the government will activate specific action plans for five major projects worth over four trillion won to deal with the country's low birthrate.