S. Korean population forecast to fall to 37 mln in 2100

SEOUL, July 10 (Yonhap) -- South Korea's population is expected to drop as low as 37 million in 2100 from this year's 48 million due to the country's stubbornly low birthrate and fast population aging, the government said Sunday.
Citing the latest U.N. population report, the Ministry of Strategy and Finance estimated that South Korea's population will likely peak at 50 million in 2030 before continuing to decline thereafter.
According to the U.N. report, the world population is expected to reach 7 billion at the end of this year and further rise to 9.3 billion in 2050 before hitting 10.1 billion in 2100.
The finance ministry attributed the long-term decline in South Korea's population to its low birthrate and a surge in the number of senior citizens.
South Korea is faced with a sharp downturn in its birthrate, which was 1.15 children per woman in 2009, the lowest among member countries of the Organization for Economic Cooperation and Development.
In 2000, South Korea became an aging society, where people aged 65 or older exceed 7 percent of the population. The portion is expected to top 14 percent in 2019, making the country an aged society.
The ministry said the fast population aging will likely place a heavier burden on younger people in supporting senior citizens, reducing the country's total savings and thus eroding its growth potential.
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