South Korea’s population shift: challenges and opportunities

World Population Day, an event dedicated to raising awareness of the importance of population issues is celebrated on July 11 every year. Population issues are especially critical in South Korea. This nation, formally known as the Republic of Korea, and home to 53.4 million people, is the fourth-largest economy in Asia. Recently, the nation saw its citizens become 1 to 2 years younger on paper by passing a law whereby a person is aged 0 years at birth, instead of 1 year old based on the traditional Korean age system.