SEJONG, Apr. 20 (Korea Bizwire) — The number of South Koreans in the agrofisheries sector is continuing to decrease amid a rapid aging and urbanization trend in the country, government data showed Friday. Households engaging in the farming business totaled 1.04 million last year, down 2.5 percent from 1.07 million tallied a year ago, according [...]
SEOUL, March 22 (Korea Bizwire) — South Korea’s seniors outnumbered the youth population last year for the first time in the country’s history, government data has revealed. There are now more elderly people than young people in South Korea, where the working age population has begun to decline, according to new census data from Statistics Korea [...]
SEOUL, Mar. 22 (Korea Bizwire) — South Korea’s population is expected to decline after 2032 due to low birthrates, government data showed Thursday, a development that could hurt the country’s growth potential. The population of Asia’s fourth largest economy stood at 51.45 million in 2017 and is projected to reach peak at 52.95 million in [...]
SEOUL, April 24 (Korea Bizwire) – The competition to join the South Korean military, which recently heightened amid a nation-wide economic downturn and rising youth unemployment, is subsiding with the number of South Korean youth gradually declining. According to the Ministry of National Defense, there were 566,656 young applicants to South Korea’s mandatory military service [...]
SEJONG, Feb. 16 (Korea Bizwire) – Residents of Seoul moved out of the capital city last year in the largest number in 19 years, national statistics showed Thursday, apparently driven out by costly housing and lack of jobs. The yearly tally released by Statistics Korea showed 140,000 people moved out of Seoul, the highest number [...]
SEOUL, Feb. 7 (Korea Bizwire) – South Korea’s rapid population aging may make the country’s monetary policy virtually ineffective down the road by neutralizing its ripple effect on the real economy, a report said Tuesday. According to the report based on the data of 25 members of the Organization for Economic Cooperation and Development between [...]
SEJONG, Dec. 8 (Korea Bizwire) – South Korea’s population is expected to start contracting in 2032 amid widespread concerns that the country’s chronic low birthrate and aging citizens will undermine growth potential, a government report showed Wednesday. According to the report by Statistics Korea, Asia’s fourth-largest economy will likely see its population peak at 52.96 [...]
SEJONG, Sept. 29 (Korea Bizwire) – The ratio of senior citizens aged 65 and over in South Korea rose to an all-time high in 2015, underscoring the trend that the country’s population is aging at a fast pace, government data showed Thursday. According to the data by Statistics Korea, 6.57 million, or 13.2 percent of [...]
SEOUL, Sept. 26 (Korea Bizwire) – Households comprised of one or two people will account for over 60 percent of Seoul’s total population by 2040, a report showed Monday. Byeon Mi-ri, chief of the Global Future Research Center under the Seoul Institute, said 30 percent of homes in the capital city will be made up [...]
CHEONGJU, South Korea, Sept. 7 (Korea Bizwire) – Cheongju, despite being the capital and largest city in North Chungcheong Province, has a population of a mere 830,000 citizens. But with a recent verdict that it would need at least 1 million city residents to establish a self-sufficient economic bloc, the city has come up with [...]