President Lee Jae Myung Announces Long-Term Population Strategy
South Korea’s total fertility rate fell to a low of 0.72 in 2023, setting off an urgent push for long-term policy integration that culminated on October 14, when President Lee Jae Myung announced his administration’s vision for population strategy at Cheong Wa Dae, chosun.com and korea.net reported.
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Key Clinical Takeaways:
- South Korea’s population of over 50 million is projected to shrink to 36.22 million by 2072, according to the Ministry of Data and Statistics projections cited by chosun.com.
- The working-age population aged 15 to 64 is expected to halve by 2072, while the elderly dependency ratio per 100 workers will surge from 29 in 2025 to 104.
- President Lee Jae Myung announced a national policy redesign on October 14, pointing to recent gains including a 6.1% increase in marriages and consecutive years of rising birth numbers, korea.net reported.
Population Projections and Demographic Shift Through 2072
The demographic imbalance is fundamentally reshaping the nation’s labor force and economic structure. Ministry of Data and Statistics future population projections indicate that the current population will decline rapidly over the coming decades. The sheer speed of the transformation threatens regional sustainability and national competitiveness, chosun.com reported. Dwindling populations in rural areas already make it difficult to maintain basic infrastructure.
President Lee Jae Myung Announces Policy Vision at Cheong Wa Dae
Addressing the official state guesthouse of Yeongbingwan at Cheong Wa Dae on October 14, President Lee Jae Myung stated that the nation requires a fundamental redesign of its entire socio-economic system to match demographic changes, korea.net reported. “Now is precisely the turning point to change the structure and framework of the Republic of Korea’s population policy,” President Lee said, adding that the population issue stems from a traditional environment where individuals bear the heavy responsibilities of childcare alongside anxiety over the future and a lack of opportunities. He emphasized that the strategy must cover employment, housing, education, labor, and welfare.
Policy Integration Targets Labor Shortages and Youth Migration
Addressing the crisis requires moving beyond short-term fiscal welfare responses. According to chosun.com, policy integration demands empowering capable elderly individuals to work longer, increasing women's economic participation, and using technological innovations like artificial intelligence and robotics to offset labor shortages. Systematic immigration policies are also necessary to attract skilled global talent. Structural measures must also break the cycle of youth migration to the capital region.
