Avoiding the demographic cliff: South Korea’s last chance

Avoiding the demographic cliff: South Korea’s last chance

A demographic crisis is quietly accelerating in South Korea — one that threatens to reshape the nation’s future more profoundly than any economic downturn or geopolitical challenge. For the first time in its modern history, Korea is not just aging — its population is poised to shrink. And it is doing so at an alarming rate. In 2023, South Korea’s total fertility rate (TFR) fell to a record low of 0.72, the lowest among all OECD countries. In Seo…

South Korea’s Workforce Gets Older: Data

Credit: Public domain.According to employment statistics from the Bureau of Statistics 통계청, South Korea had just over 30m economically active persons as of May 2025 - the first time that the country had more than 30m economically active persons, defined as persons with jobs and unemployed persons actively seeking employment. Among them, nearly a quarter were 60 years old or older, reflecting the graying of South Korea’s workforce.