Signal Korea entered a super-aged phase while dependency pressure accelerates

Summary

The KDI report states that Korea officially became a super-aged society in December 2024, when people aged 65 and over passed 20% of the population. Seoul's total fertility rate of 0.58 is among the lowest of any single city in the world. The working-age population is shrinking quickly, and the old-age dependency ratio is projected to reach 80 by 2050, the highest in the OECD. By 2045 the report treats as settled a total population of roughly 47 to 49 million, a median age in the late fifties and a working-age share below 60%. These conditions will place structural pressure on pensions, health care and long-term care.