Asia-Pacific

S. Korea's population likely to fall from 2018

(Xinhua)
Updated: 2010-08-18 16:35
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SEOUL -- South Korea's population is forecast to decline from 2018 while a growing influx of immigrants into the country through marriage sees a rapid transition to a multiracial society, a report showed Wednesday.

The country's population has grown a mere 0.3 percent annually between 2005 and 2010 and the growth rate is expected to turn negative from 2018, according to the report on 2009 demographics by the Korea Social Science Data Archive.

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The report said that South Korea's population as well as labor force will shrink within 10 years from now due to a sharply falling birth rate.

South Korea's population is predicted to stand at 42.34 million in 2050, down 13.1 percent from 2009, the report said.

South Korea, with a drastic rise in the number of marriage- based immigrants from other countries since the late 1980s, is moving closer to a multiracial society, it said.

The report also warned of the seriousness of the country's aging population, which results in reduced economic activities and threatens the security of the national pension.

The country's aging population will cause medical spending to account for more than 10 percent of gross domestic product (GDP) in 2050, according to the report.