About 15 pct of S. Korea's population aged 65 or older: report

SEJONG. KAZINFORM People aged 65 or older made up about 15 percent of South Korea's population this year, a report showed Friday, highlighting concerns that the fast-aging demographic transition could pose a drag on the country's economy.

According to the report by Statistics Korea, the number of people aged 65 or older stood at 7.68 million this year, accounting for 14.9 percent of the nation's population, Yonhap reports.

The South Korean population is projected to peak in 2028, then go on a downward curve, the report showed.

However, the graying of South Korea will accelerate, with the number of elderly people rising to 19 million in 2050 -- 39.8 percent of population.

By 2060, the number of elderly people could account for 43.9 percent of the country's population, according to the report.

The fast-aging population, coupled with record-low birth rates, could become a burden on the nation's finances as the cost of health and welfare services for senior citizens increase.

The report said that on average 4.4 working people currently have to support one senior citizen, which is a greater burden on each individual than the comparable figure of 9.9 in 2000.

The figure is expected to further decline to 2.6 in 2030, 1.7 in 2040 and 1 in 2065, indicating that the burden on younger people to support senior citizens will continue to grow.

Meanwhile, divorces among people aged 65 or older have been growing fast.

The report showed that the number of divorces filed by men in the age group came to 8,032 last year, and the corresponding number for females was 4,148.

The figures accounted for 16.7 percent and 21 percent, respectively, of the country's divorces last year.