Seoul, Sep 23
South Korea is projected to see its population drop significantly over the next 50 years, and its global population ranking fall by 30 notches over the ultra-low birth rate and rapid ageing, according to a report on Monday.
The country's population is projected to reach 36 million in 2072, down 30.8 per cent from this year's 52 million. Data from Statistics Korea showed that the country’s population peaked in 2020 and has been on a decline, news agency reported.
The world population, however, is forecast to continue to rise during the cited period to reach 10.22 billion in 2072, compared with an estimated 8.16 billion this year.
South Korea was the world's 29th most populous country in 2024, but the ranking is expected to fall to 59 in 2072, the report said.
The country is facing grim demographic challenges as many young people opt to postpone or give up on getting married or having babies in line with changing social norms and lifestyles, as well as amid the tough job market and rising home prices.
The fertility rate, the average number of children a woman bears in her lifetime, came to a fresh low of 0.72 in 2023, down from 0.78 the previous year.
It was much lower than the replacement level of 2.1 that would keep South Korea's population stable at 51 million, the report said.
According to the forecast, South Korea's population dependency ratio is projected to grow to 118.5 people in 2072 from this year's 42.5 people, which means much greater pressure on the productive population.