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5mo ago

South Korea Officially Classified as 'Super-Aged' Society

One in five South Koreans is now aged 65 or older, highlighting a demographic crisis fueled by a record-low birth rate.

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Commuters disembark from a train at a train station in Seoul on December 6, 2024.
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There is an urgent need in South Korea for new policies to manage demographic shifts, as the country has been classified as a ‘super-aged’ society. Photo: AFP

Overview

  • South Korea has reached 'super-aged' status, with 20% of its 51.2 million population aged 65 or older, according to official data released on December 24, 2024.
  • The country has the world’s lowest fertility rate at 0.72, far below the replacement rate of 2.1 needed to sustain population levels.
  • The elderly population has more than doubled since 2008 and is projected to reach 40.1% of the total population by 2050 if current trends continue.
  • Despite spending over $200 billion on pro-natalist policies over 16 years, initiatives like parental leave extensions and financial incentives have failed to reverse the declining birth rate.
  • Experts attribute the demographic crisis to factors such as high living costs, competitive work culture, gender inequality in childcare responsibilities, and changing societal attitudes toward marriage and family.