S. Korea posts first decline in total population in 2020 Updated: 2021-01-04 10:02:18 KST

South Korea’s population decreased for the first time last year.
According to data released by Ministry of Interior and Safety, as of the end of 2020, the number of people registered as residents stood at over 51.82 million.
This is a drop of over 20-thousand from the previous year.
This was largely due to the continued decline in the number of births in the country.
The number of births hovered around 276-thousand, an over 10 percent drop on-year, while deaths rose nearly three percent to stand at 308-thousand.
While such a trend had been predicted for decades, the South Korean government was unable to arrest the falling birthrate.

“Such a change in population structure is a risk factor that has a significant socio-economic impact, leading to a reduction in the working age population and a decline in our potential growth rate”

Despite a shrinking population, the country recorded a surge in the number of households, largely led by an increase in single-person households.
They accounted for nearly 40 percent of the country’s total households last year.
When added with two-person households, they account for nearly 63 percent of all households in South Korea.
The population concentration in the greater capital area is continuing to grow, accounting for 50 percent of South Korea’s total population.
Kim Hyo-sun, Arirang News.