S.Korea: Aging at a tremendous speed: Korea Statistical Office, Future Population Estimate

S.Korea: Aging at a tremendous speed: Korea Statistical Office, Future Population Estimate

South Korea’s Future Population Estimate:

According to the Korea Statistical Office “Future Population Estimate”

South Korea in the future will be a society with an extremely distorted population structure.

In South Korea, the birthrate is declining and the population is aging at an accelerating pace.

This point is the same in Japan.

WHO Announcement (2018):

Life expectancy is No. 1 in Japan and No. 9 in South Korea, ranking top in the world (as of 2016).

In the future, the elderly population will grow even thicker, and the number of children born will continue to decline.

Population ratio of Korea and Japan:

However, there is one difference between Korea and Japan.

Chart 1 and Chart 2 show changes and forecasts of the population ratios of South Korea and Japan, respectively.

The population structure of South Korea will change at an unprecedented rate.

South Korea is aging at a tremendous speed:

In general, the aging rate, which indicates the ratio of the elderly (65 years old and over) to the total population of the country

A society that exceeds 7% is an “aging society”
“Aging society” from 14% or more,
Defined as “super-aging society” from 21% or more.
In Japan, the transition took 24 years from 1970 to 1994.

In South Korea, it exceeded 7.2% in 2000, and in just 18 years, it exceeded 14%.

South Korea is expected to become the “oldest country in the world” with rapid aging in the next half century.

As of 2020:

The ratio of the working-age population (15-64 years old) to the total population of South Korea is 71.1%.

This is the top of the 37 OECD member countries.

As of 2065:

However, by 2065, the working-age population will increase.
It is predicted to fall to 45.4%, which is even lower than Japan’s 51.4% (medium estimate).

This percentage is the lowest among OECD member countries, and the speed of change stands out.

Number of marriages in 2018:

Korea
The number of marriages in 2018 was the lowest ever, and the unmarried rate in their 20s is 91.3%.

Japan
In Japan, where late marriage is also progressing, the unmarried rate in the 20s is 79.7%, and the late marriage in South Korea stands out.

Not only are late marriages progressing, but the lifetime unmarried rate is also rising.

PRESIDENT Online

https://president.jp/articles/-/39450?page=1

South Korea in 2040:

One in three is 65 years old or older

The elderly population aged 65 and over is 8.13 million, accounting for 15.7% of the total population.

The elderly population is on the rise:

It is expected to reach 17.22 million (33.9%) in 2040.

It is said that one in three people in the 2040 population will be elderly.

Working-age population (15-64 years old):

There is no choice but to increase the burden on the working-age population (15-64 years old) who engages in economic activities.

By 2040, the working-age population will decrease to about half (55.6%) of the total population.

Joongang Ilbo | 

https://s.japanese.joins.com/JArticle/271226?sectcode=400&servcode=400