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[News Focus] Working age population declines by 750,000 over 4 years
[News Focus] Working age population declines by 750,000 over 4 years
Social affairsJan 24, 2021
SEJONG -- South Korea is heading toward a labor shortage in the wake of record-low fertility rates and the rapidly aging population. The baby boomer generation -- defined in Korea as those born between 1955-1963 -- is beginning to enter retirement age, with the working-age population classed as those aged 15-64. According to the Ministry of Interior and Safety, the working age population fell to 71.4 percent of the total in December, the lowest in at least 12 years. The portion was 72.4 perce