Elderly set to exceed 30% by 2034

The population of South Korean nationals residing in the country has dropped below 50 million for the first time in six years, largely due to low birth rates.

Projections suggest that by 2042, this figure may not even reach 47 million.

According to data released by Statistics Korea on April 11, the population of South Korean nationals decreased from 50,021,000 in 2022 to 49,847,000 in 2023. After surpassing the 50 million mark in 2018 with a population of 50,024,000, the figure had remained in the 50 million range for five years before dropping to the 40 million range last year.