The government, presidential office and ruling party have agreed to speed up efforts to create a new ministry in charge of crafting strategies on population issues to deal with the country's record low birthrates and aging society.

People Power Party (PPP) spokesperson Kwan Kyu-taek said the ruling bloc made the agreement on Sunday during a high-level policy coordination meeting at the prime minister's official residence in central Seoul.

In the meeting, the ruling camp reportedly agreed on the need to create the deputy prime minister-level Population Strategy Ministry as a powerful center to oversee efforts to address the country's low birthrates and aging society.

The spokesperson said that the government will propose a related bill in July, adding that related ministries will hold a joint briefing on Monday based on things discussed in the policy meeting.

The spokesperson added that the planned ministry will establish mid- to long-term national development strategies on population, plan and evaluate population policies, and allocate and adjust budgets for projects aimed at boosting birthrates.