Korean Media: By 2050, 100 South Korean young people will support 76 elderly people!
On June 18, South Korean media outlet Digital Daily published an article stating that the burden of supporting the elderly in South Korea is expected to rise to the highest level among major countries by 2050.
According to an analysis by Statista based on United Nations data, South Korea's old-age dependency ratio is projected to surge from 31.2 per 100 economically active individuals in 2026 to 75.6 by 2050. The old-age dependency ratio refers to the number of people aged 65 and above that every 100 individuals aged 15 to 64 in the workforce must support.
Compared to other major countries, South Korea’s increase is relatively rapid. Italy is expected to rise from 40.7 to 70.4 during the same period. China is projected to more than double, increasing from 21.6 to 52.3. Meanwhile, the United States will only grow from 29.3 to 37.9.
Even as their elderly care burdens intensify, India and some emerging nations will maintain relatively young population structures. Differences in birth rates, life expectancy, and migration flows are considered key factors determining how quickly each country experiences population aging.
As the burden of supporting the elderly grows heavier, the social costs borne by the working generation also rise. A shrinking workforce may lead to slower economic growth. Fiscal pressures on social security systems such as pensions and health insurance are also escalating. Increases in healthcare and assistive service costs are unavoidable.
However, the old-age dependency ratio does not accurately reflect actual caregiving burdens. This is because some people aged 65 and above are still working, and not all individuals aged 15 to 64 are employed.
The United Nations analysis points out: "If this trend continues, population aging will impose increasingly heavy burdens on labor markets, pension systems, and public finances."
Original article: toutiao.com/article/1868298151518218/
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