S.Koreans aged 70 and older outnumber those in 20s for 1st time

Seoul, Jan 10 (SocialNews.XYZ) South Korea's elderly population aged 70 and older outnumbered those in their 20s for the first time last year, as the society is rapidly aging amid record low birth rates, government statistics revealed on Wednesday.

According to the resident registration data compiled by the Interior Ministry, the number of people aged 70 years and over totaled 6.32 million at the end of last year, surpassing the population in their 20s tallied at 6.2 million, reports Yonhap News Agency.

It marked the first time that the number of elderly people has outstripped the 20-something population.

That comes as South Korea's total fertility rate -- the number of children that are expected to be born to a woman over her lifetime -- has broken record after record to hit 0.78 in 2022.

The population aged 65 years and older has gradually increased, reaching 9.73 million last year, a gain of 460,000 people from the previous year, to account for 19 per cent of the total population, the data showed.

Of South Korea's 17 major cities and provinces, eight were categorised as a "super-aged society", in which people aged 65 and older make up over 20 per cent of the total population.

North Chungcheong and South Gyeongsang provinces were newly added to the list last year.

South Korea has witnessed its population fall each year since 2020 when it recorded its first population decline.

In 2023, the population stood at 51.32 million, a fall of 113,000 people, or a 0.22 per cent drop, from a year earlier.

The ratio of the working-age population, or people aged 15 to 64, declined 0.96 per cent from a year ago to about 35.9 million, accounting for 70 per cent of the total number of registered residents.

Source: IANS