The government has begun formulating the 5th Basic Plan for Low Birthrate and Aging Society to address the deepening low birthrate, aging population, and resulting demographic changes. (Image courtesy of Yonhap)
SEOUL, May 10 (Korea Bizwire) — The South Korean government has begun crafting its Fifth Basic Plan for Low Fertility and Aging Society, a sweeping five-year strategy aimed at countering the nation’s deepening demographic crisis. The new plan, set to take effect in 2026, will replace the current fourth plan that expires this year.
At the 12th Emergency Population Policy Meeting held on Thursday, the Presidential Committee on Aging Society and Population Policy outlined the direction for the upcoming plan.
Officials emphasized that Korea’s historically low birthrate and rapidly aging population now constitute a structural emergency requiring comprehensive, cross-sectoral policy reforms rather than isolated measures.
According to the committee, the country’s total fertility rate stood at 0.75 in 2024—remaining the lowest in the world—while the number of people aged 80 or older is expected to more than double, from 2.48 million this year to 5.15 million by 2040.
“This is no longer a challenge that can be met with individual policies. The demographic crisis has become a total, systemic threat,” said Vice Chair Joo Hyung-hwan. “We are in a golden time for action, and the new plan must be grounded in public engagement and realistic execution.”
The upcoming strategy will integrate forecasts for population and fiscal resources and reflect emerging social dynamics, including the impact of artificial intelligence.
Government to prioritize structural reforms as birthrate remains lowest globally and elderly population set to double by 2040 (Image supported by ChatGPT)
It will also explore policy levers across employment, urban planning, and education to address root issues such as youth unemployment, regional depopulation, and overconcentration in the Seoul metropolitan area.
Key proposals include expanding parental leave, promoting flexible work systems, enhancing public childcare and education, and reducing dependence on private tutoring.
The committee also recommended raising the formal age threshold for elderly status and fortifying pension systems to ensure income stability for seniors.
Recognizing South Korea’s shift toward a more diverse society, officials plan to incorporate measures to support multicultural and immigrant communities.
Additionally, to ease youth entry into the workforce, the committee is reviewing a hybrid hiring model that blends regular and rolling recruitment—responding to concerns that a surge in experienced hires is squeezing out first-time job seekers.
The government also discussed plans to mitigate the risk of regional extinction. Spearheaded by the Ministry of the Interior and Safety, forthcoming initiatives include a national population vitality fund and the expansion of integrated local care pilot programs to support declining communities.
The full framework of the Fifth Basic Plan is expected to be finalized by the end of 2025.
M. H. Lee (mhlee@koreabizwire.com)
