Koreans aged 65 and above are set to make up 46.4 percent of the total population in 2070, data showed Friday, a projection that shows rapid population aging amid the country’s critically low birthrate.

The figure marks a sharp rise from the 18.4 percent estimated for this year, according to Statistics Korea.

The report came amid expectations that the proportion of seniors will hit 20 percent in 2025, compared with 14 percent in 2018.

Japan achieved this level in 2004, taking a decade to reach it, whereas France reached the milestone in 2018, taking 39 years.

As of 2021, Koreans aged 65 were projected to have an additional life expectancy of 21.6 years, while those aged 75 were expected to live an additional 13.4 years.

Cancer and cardiac disorders were the main causes of death for seniors in 2021, the data also showed.

In the economic aspect, 78.7 percent of individuals aged 65 to 74 generated income either independently or through their spouses in 2021. The proportion came to 46 percent for those aged 75 and above.

In 2021, nearly 95 percent of individuals in their 60s had internet access, while the corresponding figure for those aged 70 and above was 49.7 percent. This represents a significant growth of over 30 percentage points since 2015.

Meanwhile, only 21,138 babies were born in March this year, down 8.1 percent from a year earlier, data showed last month. It marked the lowest number for any March since the statistics agency started compiling monthly data in 1981.

The number of babies born in South Korea has been falling on-year for 88 consecutive months.

https://www.koreatimes.co.kr/www/nation/2023/06/113_353083.html

Category: Korea