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South Korea's population is expected to start contracting in 2032 amid widespread concerns that the country's chronic low birthrate and aging citizens will undermine growth potential, a government report showed Wednesday.
According to the report by Statistics Korea, Asia's fourth-largest economy will likely see its population peak at 52.96 million in 2031, rising gradually from 51.01 million tallied at the end of last year.
And the number will begin declining in the following year and reach 43.02 million by 2065, an equivalent to that of 1990.
The figures assume that the current rates of birth, death and population change will continue, the statistics agency explained.