South Korea is facing a significant change in demographics.

South Korea experienced a notable shift last year as the population aged 70 and older exceeded that of individuals in their 20s for the first time. This transformation is attributed to historically low birth rates and the rapid aging of the population, according to data released by the Ministry of Interior and Safety on January 10.

The statistics revealed that the number of individuals aged 70 and older reached 6.31 million in 2023, surpassing the 6.19 million people in their 20s. This reversal in demographic trends indicates a 3.9 percent increase, equivalent to 237,614 individuals, in the elderly population compared to the previous year. In contrast, the number of individuals in their 20s declined by 3.4 percent, with a reduction of 219,695 during the same period. 

A decade ago, in 2014, the 70 and older age group stood at 4.44 million, significantly trailing behind the 6.64 million individuals in their 20s.

Cho Young Tae, a Seoul National University Graduate School of Public Health professor, commented on this shift, stating, “The long-standing perception in Korean society of having more young people in their 20s than in their 70s has now been overturned.” He anticipates that this gap will continue to widen in the future.

South Korea's overall population has continued its downward trajectory for the fourth consecutive year since the initial decline in 2020. The country's total number of registered residents was 51.352 million in the past year, reflecting a 0.2 percent decrease from 2022. A Ministry of Interior and Safety official highlighted that the decline in births significantly outweighs the decrease in deaths.

Further exacerbating the demographic challenge, South Korea's total fertility rate, estimating the average number of children a woman will have in her lifetime, plummeted to a record low of 0.7 in 2022. As the country grapples with these demographic shifts, policymakers face the urgent task of addressing the implications for healthcare, social services, and the overall well-being of the aging population.