South Korea’s Dying Population: A Crisis of Cost and Competition
South Korea has officially become a “super-aged society,” with 20 percent of its population now aged 65 or older, a milestone driven by a plummeting birth rate. This demographic shift, coupled with the world’s lowest fertility rate, presents significant economic challenges and has prompted the government to implement various measures, including new parental leave policies and tax breaks. Experts emphasize the urgent need for systemic reforms, such as extending the retirement age, to address the impending workforce shortage. Projections indicate that this elderly population will continue to grow dramatically in the coming decades.
John Q. Hosedrinker