Korea's dependency ratio to rise from OECD's lowest to highest by 2048
Korea is on course to have the highest total dependency ratio among OECD members by 2048, up from the lowest this year, as population aging and persistently low birthrates reshape the country's economy. Calculations based on the OECD’s latest population projections showed Sunday that the ratio will rise from 45.4 this year to 90.2 in 2048, exceeding Greece’s 90.1. It is forecast to reach 117.3 by…
Korea is projected to have the highest total dependency ratio among OECD countries by 2048, according to recent population projections. This year, the ratio stands at 45.4, but it is expected to increase significantly to 90.2 by 2048, surpassing Greece's 90.1. The ratio is forecast to reach 117.3 by 2070, more than double its current level.
The dependency ratio is calculated by dividing the population aged 14 and younger and 65 and older by the population aged 15 to 64, for every 100 people in the working-age group. This measure reflects the age structure of the population, rather than actual financial obligations or employment levels.
Most of the projected increase in the dependency ratio is attributed to the growing elderly population. The number of people aged 65 and older per 100 working-age people is expected to soar from 31.3 this year to 103.3 in 2070. The proportion of children, aged 14 and younger, is projected to remain steady around 14.
Currently, Korea's old-age dependency ratio ranks as the 18th-lowest among the 38 OECD members. By 2045, it is projected to climb to 68.4, overtaking Japan's 67.6.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
