South Korea's Youth Population Falls Below Elderly Count

Population Shifts Highlight Deepening Demographic Crisis

The ongoing trend of low birthrates and an aging population has led to a significant demographic shift. The number of people in their 20s has sharply declined, becoming smaller than the elderly population aged 70 and above for the first time. This marks a historic moment in the country’s demographic history, as the once-largest adult age group is now the smallest.

According to data from the Population and Housing Census released by the Ministry of Data and Statistics, the population in their 20s last year was 6,302,000, a decrease of 193,000 compared to the previous year. Meanwhile, the population aged 70 and above reached 6,543,000, surpassing the 20s population by 241,000. This is the first time since 1925 that the 20s age group has fallen below those aged 70 and above.

20s Overtaken by Those Aged 70 and Above

The decline in the 20s population has been consistent over the past four years. It peaked at 7,030,000 in 2020, and has since decreased by 140,000 to 210,000 annually. Last year’s drop was the most significant among all age groups, surpassing the reductions seen in those under 10 (192,000) and in their 40s (169,000).

As of last year, the largest age group was those in their 50s, with 8,713,000 individuals. This contrasts sharply with 30 years ago when the 20s age group was the largest across all age categories.

Weakening Presence in the Labor Market

The 20s age group is not only shrinking in numbers but also facing challenges in the job market. In August of last year, the employment rate for those in their 20s was 60.5%, a 1.2 percentage point drop from the previous year. This marked 12 consecutive months of decline or stagnation without any recovery.

The unemployment rate for those in their 20s in August reached 5%, rising by 1 percentage point to mark the highest level in three years since 2022 (5.4%). This increase is attributed to large companies prioritizing experienced workers over new graduates, reducing opportunities for young people entering the workforce. According to a survey by the Federation of Korean Industries, 28.1% of new college graduate employees at the top 500 companies were experienced hires, up from 25.8% the previous year.

The contraction of manufacturing due to U.S. tariff policies and the slump in the construction industry have further limited quality job opportunities for young people. There are growing concerns that if young people struggle to establish themselves in society, this could lead to delayed marriage and childbirth, exacerbating the already declining birthrate problem.

Implications for Economic Vitality

The combination of a shrinking 20s population and limited job opportunities is raising alarms about the future of economic vitality. With fewer young people entering the workforce, there may be a shortage of skilled labor, which could slow down economic growth. Additionally, the deepening population crisis may lead to increased pressure on social welfare systems, as the elderly population continues to grow.

Experts suggest that addressing these challenges will require comprehensive policy reforms, including incentives for families to have more children, support for young workers, and measures to attract foreign talent. Without such interventions, the demographic imbalance could have long-term consequences for the country's economy and social stability.

Future Outlook

The current trends indicate that the population structure is shifting rapidly, with implications that extend beyond just demographics. As the 20s generation becomes smaller and less represented in the labor market, the country must adapt to ensure sustainable economic development. This includes investing in education, promoting innovation, and creating a more inclusive work environment that supports young professionals.

The situation calls for a coordinated effort between government, businesses, and society to address the root causes of the population crisis and create a more resilient future. Only through such collaboration can the challenges of an aging population and a shrinking workforce be effectively managed.