South Korea's population is rapidly aging and shrinking due to a low birth rate. The country is now classified as a 'super-aged society' with 20% of its population aged 65 or older.
South Korea has officially become a 'super-aged society' with 20 percent of its population aged 65 or older, according to official data released on Tuesday. This worrisome trend is fueled by an alarmingly low birth rate. Asia's fourth-largest economy recorded just 0.7 births per woman last year, one of the lowest globally and far below the replacement rate of 2.1 needed to maintain the current population.
The number of people aged 65 and older has more than doubled since 2008, reaching 10 million out of a total registered population of 51.2 million. The government has invested billions of dollars in encouraging births, offering subsidies for egg freezing as a recent example, but these efforts have yet to be successful. Projections estimate the population will fall to 39 million by 2067, with a median age of 62. Experts attribute the low birth and marriage rates to various factors, including high childcare costs, soaring property prices, a fiercely competitive job market, and the double burden on working mothers who balance household responsibilities, childcare, and careers
SOUTH KOREA SUPER-AGED SOCIETY POPULATION DECLINE LOW BIRTH RATE AGING POPULATION
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