South Korea's Rapid Demographic Shift
South Korea's population is undergoing one of the most dramatic demographic transformations in the world. In December 2024, the nation crossed a critical threshold, with over 20% of its population being 65 years of age or older, categorizing it as a "super-aged" society according to United Nations standards. This rapid change, fueled by the world's lowest fertility rate and one of the highest life expectancies, presents a complex set of challenges and opportunities for the country.
The Numbers Behind the Super-Aged Status
The data from recent years highlights the dramatic speed of South Korea's aging. The proportion of the elderly population has been steadily increasing. This rapid progression from an "aged society" (over 14% elderly) to a "super-aged" one took just seven years, far faster than countries like Japan. Projections indicate that if current trends continue, the proportion of the elderly will climb significantly in the coming decades.
Causes of Rapid Population Aging
Several interconnected factors are driving this demographic crisis in South Korea. The two most significant are a persistently low fertility rate and increasing life expectancy. South Korea has the world's lowest fertility rate, far below the replacement rate needed to maintain a stable population. This is attributed to factors like the high cost of living, a competitive work culture, and delayed marriage. Simultaneously, South Koreans are living longer due to advances in medicine and improved living standards.
The Societal and Economic Impact of an Aging Population
The demographic shift has profound consequences for South Korea's economy and society. The decline in the working-age population and the increase in the number of retirees place immense pressure on the nation's economic model. As the workforce shrinks, concerns are rising about future economic growth and productivity. An aging population also increases the demand for healthcare and social welfare services, straining the national budget and public pension system. Furthermore, an increasing number of elderly South Koreans are living alone, often with insufficient income, leading to higher levels of poverty and social isolation.
Comparison of Population Dependency Ratios
| Metric | Old-age Dependency Ratio (2022) | Old-age Dependency Ratio (Projected 2072) |
|---|---|---|
| Ratio (Per 100 Working-Age People) | 24.4 | 104.2 |
| Ranking (OECD) | Bottom 10 | Highest |
| Change | Increase of 4.3 times |
Government Efforts and Future Outlook
The South Korean government has implemented various policy interventions to address the aging population crisis. Recent strategies include structural reforms to the public pension system and work-life balance initiatives, as well as efforts to incentivize longer careers and explore immigration policy changes. The demographic divide between metropolitan and non-metropolitan areas continues to widen.
Conclusion
South Korea officially became a "super-aged" society in late 2024, with over 20% of its population aged 65 or older. This situation results from the world's lowest fertility rate and a high life expectancy. The government is working on structural reforms and a multi-pronged approach to manage the effects of this rapid aging. The consequences impact the economy, social welfare systems, and national security. For more details on the economic implications, see the {Link: jil.go.jp https://www.jil.go.jp/english/events/seminar/20250326/documents/Korea.pdf}
