S. Korea to unveil demographic policy blueprint as it becomes 'super-aged' society

The remark came after the government data showed the number of South Koreans aged 65 or older stood at 10.24 million

South Korea has formally become a "super-aged" society, with people aged 65 or older now accounting for over 20 per cent of the country's total population, the latest government data showed Friday.

The United Nations classifies countries where more than 7 per cent of the population is 65 or older as an aging society, those with over 14 per cent as an aged society, and those with more than 20 per cent as a super-aged society.

According to the data from Statistics Korea, the number of senior citizens in the country stood at 10.24 million as of December 1, up 250,000 from a year earlier.

The figure marks a sharp increase from 7.23 million in 2018, when South Korea first became an aged society.

The rapidly aging population is largely attributed to a sustained low birth rate and increasing life expectancy.

The total fertility rate -- the average number of children a woman is expected to have over her lifetime -- stood at 0.74 in the first half of this year, far below the replacement level of 2.1 needed to keep the population stable.

Meanwhile, the average life expectancy at birth rose to a record high of 83.58 years in 2022, up 0.34 years from the previous year.

The presidential committee on ageing society and population policy said the government will come up with a demographic policy blueprint in the near future.

"Considering the unprecedented and faster-than-expected pace of aging, we do not have much time," said Joo Hyung-hwan, vice chairman of the committee.

"We will promptly come up with actions so that the country does not miss the timing."

Joo added it was noteworthy that the country has been showing signs of a recovery in its critically low birth rate.

The number of babies born in South Korea increased at the fastest rate in 14 years in October.

A total of 21,398 babies were born in October, up 13.4 per cent from the 18,878 newborns a year earlier. It marked the largest on-year increase since November 2010, when the number of childbirths grew by 17.5 per cent.

"The total fertility rate for this year is expected to reach 0.74, far above the previous estimate of 0.68," Joo said, noting such figures are a "hopeful signal" for the country's demographic challenges.

The vice chairman went on to say that the government will continue to expand support for families and pregnant women, and come up with measures to help women balance work and family life.

"We will also strengthen efforts to improve the quality of life for senior citizens and create a society where they can age healthily and happily," he added. (Yonhap)