Alarming Demographics: An Ageing and Shrinking Nation
South Korea has officially become a “super-aged society,” with 20% of its population aged 65 or older, according to government data. This demographic shift stems from a plummeting birth rate of just 0.7 births per woman—one of the lowest in the world and far below the replacement rate of 2.1 needed to sustain its population.
The nation, home to 51.2 million people, now faces a stark reality: its population is both ageing and shrinking at unprecedented rates. The elderly population, which stood at fewer than 5 million in 2008, has more than doubled to 10 million today.
Efforts to Reverse the Trend
The South Korean government has invested billions of dollars to combat these trends, including subsidies for egg freezing and other initiatives to encourage childbirth. However, these measures have yet to yield significant results. Experts predict the population will shrink to 39 million by 2067, with a median age of 62.
Super-Aged Society: The Causes Behind Low Birth Rates
Experts cite several factors driving low marriage and birth rates:
- High child-rearing costs and skyrocketing property prices
- An intensely competitive job market
- The double burden on working mothers balancing careers with household responsibilities
These societal pressures have contributed to an ageing society with significant implications for South Korea’s future workforce and economy.
