South Korea has officially become a “super-aged” society, as individuals aged 65 and older now constitute 20% of its population, according to government data released on December 24, 2024.
Key Points
- Elderly Population:
- The total number of people aged 65 or above in South Korea is now 10.24 million, representing 20% of the country’s 51 million citizens.
- Among the elderly:
- Women aged 65 and above comprise 22% of the female population.
- Men in the same age group account for 18% of the male population.
- Trend Over Time:
- In 2008, 10% of South Korea’s population was aged 65 or older (4.94 million).
- The figure rose to 19.05% in early 2024 and crossed the 20% threshold by December.
- The transition reflects a consistent rise in the aging population over the years.
- Global Context:
- The United Nations (UN) defines an aging society as one where individuals aged 65 and older make up:
- 7% or more: Aging society.
- 14% or more: Aged society.
- 20% or more: Super-aged society.
- Globally, the share of people aged 65 and older is projected to rise from 10% in 2022 to 16% by 2050. By then, the elderly population will be nearly twice the number of children under age 5 and close to the number of children under 12.
- The United Nations (UN) defines an aging society as one where individuals aged 65 and older make up:
Implications for South Korea: South Korea’s demographic shift presents challenges such as:
- Economic strain: Increased demand for healthcare, pensions, and elder care.
- Workforce decline: A shrinking working-age population could impact economic growth.
- Social dynamics: Potential changes in family structures and community support systems.
Broader Global Implications: The rapid global aging trend emphasizes the need for policies to address:
- Healthcare and eldercare systems.
- Labor market adaptations to include older workers.
- Sustainable pension systems to support aging populations.
