Korean Population to Reach 50 Million Saturday

The Korean population, according to Statistics Korea, has doubled in just 50 years, from 25 million back in 1960, to 50-MILLION this Saturday on June 23rd.
This figure includes the number of foreign residents who have been staying in Korea for more than three months.
With the 50-million mark reached, Korea is now one of just seven countries in the so-called "20-50 Club", countries with populations of over 50 million people and a per capita income of over 20-thousand U.S. dollars.
Countries like the U.S., France and Germany earned their distinctions in the late 1980s and early 1990s, and Korea joins the club 16 years after the United Kingdom made the list in 1996.

Advertisement

[Interview : Kim Hyung-joo, Research Fellow LG Economic Research Institute] "This is a significant mark, as a country's population of over 50-million means that the country can independentely survive to some degree. And with a per capita income over 20-thousand dollars, the domestic market is also a considerable size".

At the current rate, the Korean population will reach its peak of 52 million people in 2030.
But by 2045, the number will dwindle back to the 40-million range.
Due to a low birth rate, the nation's economically active population, or the population of people aged 15 to 64, is forecast to decrease from 2016 onward.
Korea is also rapidly aging.
The number of seniors over the age of 65 is expected to double from 5.four million currently to over 10 million in 2040.
Park Ji-won, Arirang News.

Reporter : jiwonpark@arirang.co.kr