The phenomenon of population aging in South Korea has become a major challenge for the country, raising critical questions about its socio-economic future. Recent official data reveal that 20% of South Korea’s population is aged 65 or older, classifying the country as an “ultra-aged” society.
This demographic aging is the result of a continued decline in the birth rate, which has fallen to a historically low level of 0.72 in 2023, the lowest in the world. To maintain a stable population, a fertility rate of 2.1 is required, and South Korea is far from this standard. This situation raises deep concerns about the country’s future, as it leads to an imbalance between a shrinking working population and a growing elderly population.
South Korean authorities have recognized this demographic crisis and have been working to find solutions. President Yoon Suk Yeol called on parliament last May to establish a new ministry to address this “national emergency.” However, the challenges are many and complex, involving profound social, economic, and cultural changes.
The reasons for this demographic transition are manifold. They include demanding work cultures, stagnant wages, rising living costs, changing attitudes toward marriage and gender equality, and growing disillusionment among younger generations. All of these factors are contributing to redefining the social and economic landscape of South Korea.
It is clear that traditional measures, such as expanding paid paternity leave or providing financial incentives to young parents, alone will not be enough to reverse the trend. A more holistic approach that involves deep structural reforms in social, economic, and family policies is imperative.
South Korea is at a critical crossroads in its history, facing an unprecedented demographic challenge. To ensure a sustainable and prosperous future, the country must engage in a process of far-reaching social and economic reform, encouraging innovation, creativity, and social inclusion. Without these fundamental changes, South Korea risks seriously compromising its long-term stability and development.