South Korea: population aged 65 and above (as a % of total population)



The graph shows an increasingly old population, following a small drop in the 1960s. More than 10 per cent of the population was over 65 in 2008 and this proportion is increasing.

Economists are concerned that a rapidly growing aging population may decrease economic growth in the country as the labour market shrinks, and government spending increases. Consumer businesses, however may be able to adapt to the growing aging population and even benefit from it.