South Koreans aged 65 and above are set to make up 46.4 per cent of the total population in 2070, a projection that shows rapid population aging amid the country’s critically low birthrate, official statistics revealed on Friday.
The figure marked a sharp rise from the 18.4 per cent estimated for this year, according to Statistics Korea.
The report came amid expectations that the proportion of seniors will hit 20 per cent in 2025, compared with 14 per cent in 2018, reports Yonhap News Agency.
Japan achieved this level in 2004, taking a decade to reach it, whereas France reached the milestone in 2018, taking 39 years.
As of 2021, South Koreans aged 65 were projected to have an additional life expectancy of 21.6 years, while those aged 75 were expected to live an additional 13.4 years.
Cancer and cardiac disorders were the main causes of death for seniors in 2021, the data also showed.
In the economic aspect, 78.7 per cent of individuals aged 65 to 74 generated income either independently or through their spouses in 2021.
The proportion came to 46 per cent for those aged 75 and above.
In 2021, nearly 95 per cent of individuals in their 60s had internet access, while the corresponding figure for those aged 70 and above was 49.7 per cent. This represents a significant growth of over 30 percentage points since 2015.
Meanwhile, only 21,138 babies were born in March this year, down 8.1 per cent from a year earlier, data showed last month. It marked the lowest number for any March since the statistics agency started compiling monthly data in 1981.
The number of babies born in South Korea has been falling on-year for 88 consecutive months.
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