South Korea’s total population is expected to record its first decline this year, the statistics agency said, a grim assessment of its demographic situations amid the country’s chronically low birthrate, rapid aging and a decline in incoming foreigners during the pandemic.

The country’s total population is estimated to have peaked at 51.84 million last year before falling to an estimated 51.75 million this year and an estimated 37.7 million in 2070, according to the latest medium variant projection by Statistics Korea.

The latest projection is much bleaker than the agency’s previous estimate in 2018, when South Korea’s population was forecast to begin to decline in 2029.

The total population is calculated based on childbirths and deaths data and cross-border movements of foreigners who are living in South Korea for more than three months.

It showed that the country’s total population is likely to shrink to some 51.2 million in 2050 before declining to 37.7 million in 2070, a level seen in 1979. (Yonhap)