South Korea appears to be on its way to becoming an aged society by 2017 and eventually becoming a so-called super-aged society in 2026, when slightly more than 20 percent of its people are expected to be 65 or older, according to figures from Statistics Korea.

This means that more than 10 million people will be in that age bracket, the data showed.

As a result, the country’s working-age population -- those between 25 and 49 years of age -- was forecast to peak at 37.04 million in 2016 before it starts to fall in the following year.

The agency also raised concerns that this gradual change in the nation’s demographic structure will have a significant impact on the economy.