Demographics
The population of the Republic of Korea, as of 2008, was 48 606 790, with a population density of 494 persons per square kilometre. The Republic saw its population grow by an annual rate of 3% during the 1960s, but growth slowed to 2% over the next decade. In 2008, the rate stood at 0.33% and is expected to further decline to 0.02% by 2020.
A notable trend in the population structure is that it is getting increasingly older. The 2008 population estimate revealed that 10.3% of the total population was 65 years or older, while those aged 15 to 64 years of age accounted for 72.1%. In the 1960s, the country's population distribution formed a pyramid shape, with a high fertility rate and relatively short life expectancy. However, age-group distribution is now shaped more like a bell because of the low fertility rate and extended life expectancy. Youths (15 and younger) will make up a decreasing portion of the total, while senior citizens (65 and older) will account for some 15.6% of the total by 2020.
In recent years, a low fertility rate has emerged as a serious social challenge. The total fertility rate dropped from 4.53 in the 1970s to 1.26 in 2006, among the lowest in member countries of the Organisation for Economic Co-operation and Development (OECD). The Government is working to tackle the issue by establishing comprehensive plans to create family-friendly workplace environments and bolster childcare policies.
Political situation
The tension between the Republic of Korea and the Democratic People's Republic of Korea continues to play a major role in life and decision-making on the Korean peninsula. The summit meeting of both heads of states in 2001 symbolized improving relations and many activities have taken place since that historic meeting. Several rounds of family reunions have taken place, and a family reunion centre has been established at Mt. Kumgang. Construction is complete on the two rail and road links between south and north—Gyeongui in the west and Donghae on the eastern coast.
The Republic of Korea’s National Security Council has officially designated WHO as the channel of support for the health sector in the Democratic People's Republic of Korea. Since 2001, the Government of the Republic of Korea has successfully donated malaria control supplies to the Government of Democratic People's Republic of Korea through the WHO offices in each country. In 2006, WHO and the Republic of Korea launched a new programme to improve the health of women and children in the Democratic People’s Republic of Korea.
Socioeconomic situation
The Republic of Korea, once one of the world's poorest agrarian societies, has undertaken economic development in earnest since 1962, fuelled by high savings and investment rates, and a strong emphasis on education. In less than four decades, it has achieved what has become known as the "Miracle on the Hangang River", an incredible process that dramatically transformed the economy while marking a turning point in the country's history. An outward-oriented economic development strategy, which used exports as the engine of growth, contributed greatly to the radical economic transformation. Based on such a strategy, many successful development programmes were implemented. As a result, from 1962 to 2007, gross domestic product (GDP) increased from US$ 2.3 billion to US$ 969.9 billion, with its per capita gross national income (GNI) soaring from US$ 87 to about US$ 20 045. These impressive figures clearly indicate the magnitude of success that these economic programmes have brought about. The nation became the 29th member country of OECD in 1996.
In the wake of the 1997 financial crisis, the country suffered serious economic instability but proved its underlying strength by recovering in a short period of time. However, the financial crisis had a huge impact on society, especially as regards employment insecurity, as well as social awareness.
Imports have increased steadily thanks to the nation's liberalization policy and increasing per capita income levels. As one of the largest import markets in the world, the volume of the Republic of Korea's imports exceeds those of other Asian countries. Major imports include industrial raw materials, such as crude oil and natural minerals, general consumer products, foodstuffs and goods such as machinery, electronic equipment and transportation equipment.
With a history as one of the fastest growing economies in the world, the Republic of Korea is working to become the focal point of a powerful Asian economic bloc during the 21st century. The Northeast Asian region commands a superior pool of essential resources that are the necessary ingredients for economic development. These include a population of 1.5 billion people, abundant natural resources and large-scale consumer markets.
Vulnerabilities and hazards
With one of the world’s lowest fertility rates and fastest ageing populations, the Republic of Korea saw its total fertility rate drop to 1.13 in 2006, about a half of the replacement rate.
The country became an ageing society (7% of the population old) in 2000 as a result of low fertility and prolonged life expectancy and is expected to become an aged society (14% of the population old) by 2018 and a super-aged society (20% of the population old) by 2026. It has taken France 115 years to move from an ageing to an aged society and 40 years to move from an aged to a super-aged society. It took 72 and 16 years, respectively in the United States of America, and 24 and 14 years in Japan. Considering such examples, 18 and 8 years for the Republic of Korea would be the world’s shortest transition.
This rapid population ageing is causing concern regarding sustainable development as it will reduce the economically active population, hold back economic growth, narrow the tax base, and lead to tensions between generations.