S.Korea To Devise Demographic Policy For 'Super-Aged' Society

(MENAFN- IANS) Seoul, Dec 27 (IANS) A presidential committee on ageing society and population on Friday said the government will come up with a demographic policy blueprint in the near future, as South Korea has formally become a "super-aged" society.

The remark came after the government data showed the number of South Koreans aged 65 or older stood at 10.24 million, accounting for 20 per cent of the country's total population of 51.22 million, Yonhap news agency reported.

The United Nations classifies countries where more than 7 per cent of the population is 65 or older as an aging society, those with over 14 per cent as an aged society, and those with more than 20 per cent as a super-aged society.

"Considering the unprecedented and faster-than-expected pace of aging, we do not have much time," said Joo Hyung-hwan, vice chairman of the Presidential Committee on Ageing Society and Population Policy.

Joo added the government will promptly come up with actions so that the country "does not miss the timing."

The vice chairman said it was noteworthy that the country has been showing signs of a recovery in its critically low birth rate.

The number of babies born in South Korea increased at the fastest rate in 14 years in October.

A total of 21,398 babies were born in October, up 13.4 per cent from the 18,878 newborns a year earlier. It marked the largest on-year increase since November 2010, when the number of childbirths grew by 17.5 per cent.

"The total fertility rate for this year is expected to reach 0.74, far above the previous estimate of 0.68," Joo said, noting such figures are a "hopeful signal" for the country's demographic challenges.

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