Catalina Espinosa
Research expert covering society, economy, and politics for Europe and the EU
Demographics of South Korea - statistics & facts
South Korea, known for its rapid economic growth and technological advancements, is now facing a demographic crisis that poses significant social and economic challenges to the country. The nation has recorded the lowest fertility rates in the world over the past few years. In December 2024, it officially became a 鈥渟uper-aged鈥 society, where more than 20 percent of the population is aged 65 years or older. Notwithstanding the government鈥檚 numerous efforts, South Korea has so far been unable to reverse this trend.
As a result of these demographic shifts, family structures have changed dramatically. In 2000, the average household consisted of over three people. That number has fallen to just 2.2 by 2023. Single-person households聽are now the most common, largely due to younger people delaying marriage or choosing to live alone. At the same time, life expectancy is increasing, leading to a growing share of older individuals. With 20 percent of South Korea鈥檚 population aged 65 years or older as of December 2024, the number of older people is projected to more than double by 2050. The shrinking working-age population and rising age-dependency ratio are expected to place immense social and financial pressure on future generations.
Collapsing birth rates and an aging society
Despite a slight increase compared to the previous year, South Korea's birth rate聽remained alarmingly low at just 0.75 births per woman in 2024. Since 2018, it has been the only country in the Organization for Economic Cooperation and Development (OECD) with a birth rate below one child per woman. Marriage rates have also plummeted, declining by over 40 percent compared to a decade ago. The reasons behind these sharp declines in birth rates are complex, including the high costs associated with raising children and housing, a work culture characterized by long hours that hampers work-life balance, and structural barriers that hinder women鈥檚 career advancement after childbirth. Additionally, there is a widespread perception among younger people that South Korean society is not supportive of raising children.As a result of these demographic shifts, family structures have changed dramatically. In 2000, the average household consisted of over three people. That number has fallen to just 2.2 by 2023. Single-person households聽are now the most common, largely due to younger people delaying marriage or choosing to live alone. At the same time, life expectancy is increasing, leading to a growing share of older individuals. With 20 percent of South Korea鈥檚 population aged 65 years or older as of December 2024, the number of older people is projected to more than double by 2050. The shrinking working-age population and rising age-dependency ratio are expected to place immense social and financial pressure on future generations.
Tackling demographic challenges
The demographic changes associated with an aging and shrinking population are expected to have far-reaching implications across the country's economy, society, and healthcare system. Despite numerous efforts to boost birth rates, little progress has been made. Over the last two decades, the government allocated a substantial amount聽鈥 approximately 280 trillion South Korean won (equivalent to about 200 billion U.S. dollars) 鈥 to address the nation's declining fertility rate, with limited success. It remains to be seen how South Korea will navigate these challenges and how successful the implemented measures will be in the long run.
