South Korea's demographic landscape witnessed a significant shift last year as the elderly population, aged 70 and above, surpassed the population in their 20s for the first time in history, according to data compiled by the Interior Ministry.
The figures revealed that the elderly population, totaling 6.32 million, exceeded the count of those in their 20s, which stood at 6.2 million, marking a notable demographic milestone.
This demographic transformation aligns with the ongoing aging trend in South Korea, largely attributed to persistently low birth rates. The country's total fertility rate, reflecting the expected number of children per woman in her lifetime, hit a record low of 0.78 in 2022.
The population aged 65 and above has been steadily increasing, reaching 9.73 million last year—an upsurge of 460,000 individuals from the previous year. This group now constitutes 19% of the total population.
The data highlights that eight out of South Korea's 17 major cities and provinces have been categorized as "super-aged societies," where individuals aged 65 and above make up over 20% of the total population. Notably, North Chungcheong and South Gyeongsang provinces joined this list last year.
South Korea has been grappling with a declining population since 2020, with 2023 recording a population of 51.32 million—a reduction of 113,000 individuals, marking a 0.22% decline compared to the previous year.
Moreover, the proportion of the working-age population, encompassing individuals aged 15 to 64, decreased by 0.96% to approximately 35.9 million, constituting 70% of the total registered residents. This demographic transition signals the country's ongoing demographic challenges and the potential implications for its workforce and social structure in the years ahead.
(With Agency Inputs)
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