South Korea to Formulate Population Policy for 'Super-Aged' Nation

Seoul, Dec 27 (NationPress) A presidential committee focused on the aging population declared on Friday that the government intends to create a demographic policy framework in the near future, as South Korea has officially transitioned into a 'super-aged' society.

This statement follows the release of government statistics revealing that the number of South Koreans aged 65 or older has reached 10.24 million, representing 20 percent of the nation's total population of 51.22 million, as reported by Yonhap news agency.

The United Nations categorizes nations with over 7 percent of their population aged 65 and above as an aging society, those with more than 14 percent as an aged society, and those exceeding 20 percent as a super-aged society.

“Given the unprecedented and rapid pace of aging, we are running out of time,” remarked Joo Hyung-hwan, vice chairman of the Presidential Committee on Aging Society and Population Policy.

Joo emphasized that the government will quickly implement measures to ensure the country “does not miss the timing.”

The vice chairman also highlighted that there are signs of recovery in South Korea's critically low birth rate.

In October, the number of births rose at the fastest rate in 14 years.

A total of 21,398 babies were born in October, reflecting a 13.4 percent increase from the 18,878 newborns a year prior. This marks the largest year-on-year increase since November 2010, when childbirths grew by 17.5 percent.

“The total fertility rate for this year is anticipated to reach 0.74, significantly higher than the previous estimate of 0.68,” Joo noted, calling these figures a 'hopeful signal' concerning the country's demographic challenges.