Despite Low Birth Rates and Aging Population, South Korea Sees Population Growth After 3 Years - Why?

South Korea's total population has increased for the first time in three years

Recent statistics reveal that South Korea's total population has increased for the first time in three years, despite concerns over low birth rates and an aging population. This blog post explores the reasons behind this demographic shift, the contributing factors, and the potential future trends of South Korea's population.

1. Background of Population Increase

South Korea's population, which had been on a decline due to low birth rates and an aging demographic, has seen an increase for the first time in three years. According to the '2023 Population and Housing Census Results (registered census method)' released by Statistics Korea, the total population last year was 51.775 million, an increase of 82,000 (0.2%) compared to the previous year. This marks a reversal after two consecutive years of decline since 2021.

2. Contribution of Foreign Residents

The primary driver of this population increase is the rise in the number of foreign residents. The census includes foreigners who have stayed in South Korea for more than three months or who have entered the country with the intention of staying for more than three months. Last year, the number of resident foreigners was 1.935 million, an increase of 183,000 (10.4%) from the previous year.

By nationality, ethnic Koreans from China made up the largest group at 532,000 (27.5%), followed by Vietnamese (247,000; 12.8%) and other Chinese nationals (221,000; 11.4%). These two nationalities alone account for over one million (51.7%) of the foreign population. This increase is attributed to the rise in arrivals following the COVID-19 pandemic and the expansion of the Employment Permit System, according to Statistics Korea.

3. Decline in Domestic Population and Aging Issues

In contrast, the number of domestic residents has been decreasing for three consecutive years since 2021. In 2022, the domestic population dropped to 49.94 million, falling below 50 million for the first time in four years, and further decreased by 100,000 to 49.839 million last year. The median age increased by 0.6 years to 45.7 years, reflecting the aging population. The aging index, which indicates the number of elderly people per 100 young people, rose to 171.0 from 113.9 in 2018.

The youth dependency ratio, indicating the number of young people to be supported by 100 working-age individuals, decreased by 0.6 to 15.4, while the elderly dependency ratio, indicating the number of elderly people to be supported by 100 working-age individuals, increased by 1.4 to 26.3.

4. Regional Population Distribution

The total population in the capital region stood at 26.226 million, accounting for 50.7% of the national total, maintaining a significant proportion. The number of households increased by 345,000 (1.5%) from the previous year to 22.728 million.

The recent population increase in South Korea, driven primarily by the influx of foreign residents, offers significant insights. However, the continued decline in the domestic population and the challenges of an aging society remain pressing issues. It is crucial to implement policy measures to address these challenges and ensure a sustainable future. Monitoring demographic changes and preparing for the future of Korean society is a collective responsibility.