CNN "South Korea is Aging Further"

US CNN "South Korea is Aging Rapidly"
"Causes of Low Birthrate? Various Factors Including Childcare Costs"

As South Korea is projected to enter a super-aged society (with over 20% of the population aged 65 or older) by 2025, the US-based CNN reported on the 4th (local time) that "South Korea is aging rapidly."

In an article titled "Go to daycare well, come to the elderly care center: South Korea is preparing for aging," CNN reported that South Korea has the lowest birth rate and the fastest aging population in the world. Accordingly, the number of childcare facilities, which was over 40,000 in 2017, decreased to 30,900 by the end of last year. In contrast, the number of elderly care facilities surged from 76,000 to 89,643.

[Image source=Pixabay]

CNN stated, "These changes reflect years of problems that South Korea has not been able to reverse," adding, "South Korea has both the fastest aging rate and the lowest birth rate in the world. Despite the government providing economic incentives and housing subsidies to couples with more children, the birth rate has continued to decline since 2015."

Experts analyzed that this low birth rate stems from various factors such as rigid workplace culture, stagnant wages, rising living costs, economic burdens of child-rearing, and changing perceptions of marriage.

[Image source=Pixabay]

Additionally, CNN pointed out the aging issue, stating, "With the increase in the elderly population, demand for elderly services is exploding, but the social system is not keeping up properly."

The media especially noted, "As the number of young workers, who are crucial to supporting the healthcare and pension systems, gradually decreases, long-term concerns about the future of the South Korean economy are growing."

Meanwhile, a society is classified as aging if the population aged 65 or older exceeds 7%, aged society if over 14%, and super-aged society if over 20%. While it took the UK 50 years and the US 15 years to transition from an aged society to a super-aged society, South Korea is expected to take only about 7 years. Having already become an aged society in 2017, South Korea’s population aged 65 or older is expected to exceed 20% by 2025 and surpass 40% by 2050.

This content was produced with the assistance of AI translation services.