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Foreign Residents in S. Korea to Rise to 4.3 pct of Population in 2040: Report

Foreign Residents in S. Korea to Rise to 4.3 pct of Population in 2040: Report

SEOUL, April 14 (Korea Bizwire) — South Korea’s total population has started to decline amid low childbirths, but the number of foreigners here is forecast to continue to increase to make up of 4.3 percent of the population in 2040, a report showed Thursday. After peaking at 51.84 million in 2020, the country’s total population [...]

S. Korea’s Total Population to Fall for First Time This Year

S. Korea’s Total Population to Fall for First Time This Year

SEOUL, Dec. 9 (Korea Bizwire) — South Korea’s total population is expected to record its first decline this year, the statistics agency said Thursday, a grim assessment of its demographic situations amid the country’s chronically low birthrate, rapid aging and a decline in incoming foreigners during the pandemic. The country’s total population is estimated to [...]

‘MZ Generation’ Accounts for 35.5 pct of Seoul’s Population

‘MZ Generation’ Accounts for 35.5 pct of Seoul’s Population

SEOUL, Aug. 4 (Korea Bizwire) — The “MZ generation,” a Korean term referring to millennials and Generation Z, accounted for 35.5 percent of Seoul’s population last year, the city government said Wednesday. The cohort of people born between 1980 and 1994 (millennials) and between 1995 and 2004 (Generation Z) numbered 3.43 million, the largest of [...]

Plunging Child, Working-age Populations Raise Concerns over Future Gov’t Finances

Plunging Child, Working-age Populations Raise Concerns over Future Gov’t Finances

SEOUL, Aug. 2 (Korea Bizwire) — Politicians are coming up with various welfare promises as they prepare for next year’s presidential election, but the working-age population or the number of future taxpayers, whose taxes are vital in supporting these welfare policies, is plunging. Statistics Korea’s 2020 Population and Housing Census showed that the working-age population [...]