Korea is still a demographically youthful nation. In 2005, the elderly made up just 9 percent of the population, far beneath the developed-country average of 15 percent. But with life expectancy rising and birthrates plumbing record lows, Korea is about to undergo a stunning demographic transformation. According to the latest government projections, 38 percent of Korea’s population will be elderly by 2050, putting it in contention with Japan, Italy, and Spain for the oldest country on earth.
Korea is still a demographically youthful nation. In 2005, the elderly made up just 9 percent of the population, far beneath the developed-country average of 15 percent. But with life expectancy rising and birthrates plumbing record lows, Korea is about to undergo a stunning demographic transformation. According to the latest government projections, 38 percent of Korea’s population will be elderly by 2050, putting it in contention with Japan, Italy, and Spain for the oldest country on earth.