The Investment Whisperer
  • Business
  • Politics
  • Investing
  • World
  • Business
  • Politics
  • Investing
  • World

The Investment Whisperer

World

South Korea becomes ‘super-aged’ society, new data shows

by admin December 24, 2024
December 24, 2024
South Korea becomes ‘super-aged’ society, new data shows

South Korea has become a “super-aged” society with one in five people aged 65 or older, official data showed Tuesday, underscoring the country’s deepening demographic crisis.

The number of people aged 65 and older stands at 10.24 million, accounting for 20% of South Korea’s population of 51 million, according to new data released by the Ministry of the Interior and Safety.

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

South Korea has been grappling with infamously low birth rates, dropping to just 0.72 in 2023, the world’s lowest, after years of decline.

Countries need a fertility rate of 2.1 to maintain a stable population, in the absence of immigration.

According to the ministry’s latest data, about 22% of women in South Korea are aged 65 or older, while the proportion of men over that age is nearly 18%, the interior ministry said.

The data underscores the demographic time bomb that South Korea and other East Asian nations are facing as their societies age just a few decades after their rapid industrialization.

Many European nations also face aging populations, but immigration helps them to mitigate the impact. Countries like South Korea, Japan and China, however, have shied away from mass immigration to tackle the decline in their working age populations.

South Korean authorities have desperately sought to reverse the country’s demographic trend, with President Yoon Suk Yeol in May calling for parliament’s help to establish a new ministry to tackle what he called a “national emergency.”

Experts say the reasons for the demographic shift across Asia include demanding work cultures, stagnating wages, the rising cost of living, changing attitudes toward marriage and gender equality, and rising disillusionment among younger generations.

But despite the economic factors at play, throwing money at the problem has proved ineffective.

In 2022, South Korean authorities admitted that more than $200 billion had been spent trying to boost the population over the previous 16 years.

But initiatives like extending paid paternity leave, offering monetary “baby vouchers” to new parents, and social campaigns encouraging men to contribute to childcare and housework, had failed to reverse the trend.

This post appeared first on cnn.com

0
FacebookTwitterGoogle +Pinterest
previous post
Biden admin lifts $10M bounty on the head of leader of Islamist group now in charge in Syria
next post
Russia sentences US citizen to 15 years in prison on espionage charges

Related Posts

These kibbutzniks used to believe in peace with...

May 3, 2025

US-China rivalry over Panama Canal sparks tensions, leaving...

April 10, 2025

An electric scooter is blamed for a violent...

June 8, 2025

Europe scrambles to rearm as Trump threatens security...

March 8, 2025

Where pro-Palestinian university protests are happening around the...

May 4, 2024

Israel announces expansion of military operation in Gaza...

April 2, 2025

It’s time to take climate change seriously in...

December 16, 2023

Russian strike on Ukraine apartment kills 14 as...

February 3, 2025

Explosion damages canal feeding Kosovo power plants; PM...

November 30, 2024

Date set for largest democratic election in human...

March 17, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (1,430)
    • Investing (3,515)
    • Politics (4,746)
    • World (4,650)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: TheInvestmentWhisperer.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 TheInvestmentWhisperer.com | All Rights Reserved