With 23% of its Population Over 65, Busan Becomes South Korea's First City "At Risk of Extinction" | WPN World People News

South Korea has the lowest fertility rate among the OECD members, with low birth rates and an aging population becoming a national crisis. According to the latest report, Busan, South Korea's second-largest city, has become the first major city in the country to enter the "at risk of extinction" stage, as the population over 65 years old accounts for 23% of the entire city.

This report uses an "extinction risk index," which evaluates the number of women aged 20 to 39 divided by the population over 65 years old. An index below 0.2 indicates "high extinction risk," 0.2-0.5" is at risk of extinction," 1.0-1.5” is normal, and above 1.5 is low extinction risk. Busan's index is 0.49, categorizing it as "at risk of extinction."

The Busan city government is actively taking measures to address this trend and encourage young people to settle and live in the area. The changes in Busan's population structure affect not only social welfare, healthcare, and elderly care but also have an impact on the economy, employment, and the real estate market. With the increasing proportion of the population over 65, Busan needs to develop more comprehensive policies to ensure the well-being of the elderly and promote employment and entrepreneurship opportunities for the youth.

Moreover, Busan needs to improve its education system to address the challenges of an aging population. Enhancing education quality, encouraging young people to learn new skills, and creating more job opportunities will help mitigate the impact of population aging on the economy and society.