Single-person households account for nearly 30% of Korea’s population

 08-Sep-16, Business Korea 

South Korea’s population has increased by 1.36 mn, or 2.7%, compared to five years ago, entering the range of 50 million residents.

When taking a close look at the increase in population, however, South Korea’s economy is losing vitality due to a slowdown in the potential growth rates with deepening low birth rates and aging society.

Image: Business Korea

The population stood at around 51 mn as of Nov-15. In the latest survey, South Jeolla Province marked the first region to become a hyper-aging society (>20% over 65). The nation’s single households accounted for nearly 30% of the total population, while the number of foreigners in Korea also surpassed 1 million for the first time, reaching 1.36 million. More than half of foreign residents were Chinese.

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