70s and over outnumber people in their 20s for first time amid low birth rates and aging population

As Korea’s low birth rate and aging population persist, the number of people in their 20s fell below the number of people in their 70s and older for the first time last year.

Jobseekers sit down for consultations at company booths set up at a job fair in Busan on Sept. 10. [YONHAP]

As Korea’s low birthrate and aging population persist, the number of people in their 20s fell below the number of people in their '70s and older for the first time last year. Once the country’s largest age group, people in their 20s are now the smallest adult cohort.

According to the Population and Housing Census published by the Ministry of Data and Statistics — formerly Statistics Korea — on Sunday, the population of people in their 20s stood at 6.3 million last year, down 193,000 from the previous year. That was the largest drop across all age groups, surpassing declines in those under 10, down 192,000, and people in their 40s, down 169,000.

The number of people in their 20s peaked at 7.03 million in 2020 and has since declined for four consecutive years — falling by between 140,000 and 210,000 annually. As a result, the size of the 20-something population fell behind that of the 70-and-over population — 6.54 million — for the first time since official statistics began in 1925.

By age group, people in their 50s were the largest group at 8.71 million, followed by those in their 40s at 7.81 million and 60s at 7.79 million. This marks a sharp contrast with just three decades ago, when people in their 20s formed the largest share of the population in Korea.

But the issue goes beyond numbers — the presence of people in their 20s in the labor market is also shrinking. As of August, the employment rate for this age group was 60.5 percent, down 1.2 percentage points year-on-year. The figure has declined for 12 straight months, with no rebound since August 2024, when it stood at 61.7 percent. The unemployment rate for people in their 20s was 5.0 percent in August, up one percentage point from a year earlier and the highest since 2022.

Senior citizens wait in line for free lunch in front of the Tapgol Park in Jongno District, central Seoul, on May 12. [NEWS1]

The shift by major companies away from open recruitment toward ad-hoc and experienced hiring has made it more difficult for young adults to enter the job market. According to The Federation of Korean Industries, 28.1 percent of new college graduate hires at Korea’s top 500 companies by revenue last year were experienced recruits — up 2.3 percentage points from the year before.

In addition, a downturn in manufacturing linked to U.S. tariff policies and a slump in the construction sector have further reduced the number of quality jobs, making financial independence even more difficult for people in their 20s.

Experts warn that the shrinking 20-something population and rising employment difficulties are accelerating declines in marriage and childbirth, exacerbating Korea’s demographic crisis.

“The shrinking population and employment challenges among people in their 20s are not just generational issues, but part of a structural crisis that directly threatens the vitality of the Korean economy,” said Kim Gwang-seok, head of economic research at the Korea Institute for Industrial Economics & Trade (KIET). “In the long term, this could weaken the country’s overall growth potential.”

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom. BY JEONG JAE-HONG [yoon.soyeon@joongang.co.kr]