South Korea's population stagnates despite number of foreign residents topping 2 million
The South Korean national population has now decreased for four consecutive years since 2021.
SEOUL - South Korea's population showed almost no growth in 2024, as an increase in foreign residents was offset by a continued decline in the number of Korean nationals, according to government data released on J uly 29 .
The data also highlighted the country's aging population, with nearly one in five South Koreans now aged 65 or older.
In its annual census data, Statistics Korea reported that the total population reached 51.8 million as of Nov 1, 2024. This was an increase of just 31,000 from the previous year, or 0.1 per cent.
The population had previously declined for two straight years in 2021 and 2022, before rebounding in 2023. However, the growth in 2024 slowed from the previous year's 0.2 per cent.
The slowdown came as the number of South Korean nationals fell by 77,000, or 0.2 per cent, while the foreign population increased by 108,000, or 5.6 per cent. The Korean national population has now decreased for four consecutive years since 2021.
Out of the total population, 49.76 million were Korean nationals, making up 96.1 per cent. Foreigners accounted for 2.04 million, or 3.9 per cent, marking the first time the number of foreign residents surpassed 2 million.
The foreign population had declined in 2020 and 2021 due to the Covid-19 pandemic but began rising again in 2022. The recent increase is partly the result of an expanded employment permit system and efforts to attract international students.
Among foreign residents, Korean-Chinese made up the largest group at 538,000, or 26.3 per cent.
Vietnamese residents saw the largest increase from the previous year, rising by 38,000, followed by Myanmar with 12,000 and Nepal with 10,000.
When looking into the data by age groups, the overall working-age population, defined as those aged 15 to 64, fell by 283,000 to 36.26 million.
The number of children aged 0 to 14 also dropped by 199,000 to 5.42 million.
In contrast, the population aged 65 and older rose by 513,000 to 10.12 million, passing the 10 million mark for the first time.
This resulted in proportion of seniors to increase, rising from 18.6 per cent to 19.5 per cent. THE KOREA HERALD/ASIA NEWS NETWORK
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Straits Times
16 minutes ago
- Straits Times
US-listed Chinese stock loses 90% in minutes after pump-and-dump warning
Pheton is just the latest example of wild trading moves seen in Chinese companies that trade on Nasdaq. NEW YORK - Pheton Holdings, a Nasdaq-listed Chinese health care company, lost 90 per cent of its market value in a matter of minutes on July 29, hours after a Bear Cave research report said it may be the target of a pump-and-dump scheme. Pheton shares had surged more than 600 per cent in 2025 before its collapse on July 29. The stock closed trading on July 28 at US$30.96 and opened on July 29 at US$31.25. Then, around 12.26pm in New York, they suddenly sank 11 per cent and triggered a volatility halt. When trading resumed 90 minutes later, the stock's plunge reached 89 per cent before trading was halted again. Pheton resumed trading and was halted at least eight more times, as it extended its decline to 95 per cent. The shares ended July 29 at US$1.65, with a market capitalisation of US$40.8 million, down from US$765 million a day earlier. Bear Cave's report, released just after 8am on July 29, urged US regulators to stop the trading of Pheton's stock because it appeared that overseas groups are manipulating the price, putting it 'at risk of a near-term, severe stock collapse.' The report alleged that 'scammers' have used false rumours that Gilead Sciences will acquire Pheton or agree to partner with it as soon as Aug 6 to boost the shares. 'These unsubstantiated rumours match a familiar pattern in which overseas stock scammers promote tightly held US-listed Chinese companies on the basis of spurious M&A rumours, only for them to later experience sudden intraday stock collapses, often falling 90 per cent or more,' Edwin Dorsey, the Bear Cave report's author, wrote. Pheton is just the latest example of wild trading moves seen in Chinese companies that trade on Nasdaq. Top stories Swipe. Select. Stay informed. Asia US-Malaysia tariff deal expected after Trump-Anwar phone call on eve of Aug 1 deadline Asia Trump says US will set 15% tariff on South Korean imports under new deal Singapore Driver in 2024 Tampines crash that killed 2 set to plead guilty in October Multimedia 60 years, 60 items: A National Day game challenge Singapore Wegovy and beyond: Will weight-loss drugs change the way people look at obesity? Singapore $10 million Toto results to be announced on July 31, after no winners in last 3 draws Asia US CDC weighs travel notice for China as chikungunya cases rise Singapore 'Switching careers just as I became a dad was risky, but I had to do it for my family' Ruanyun Edai Technology, which listed in April, shed 91 per cent on July 14. Park Ha Biological Technology, a skincare product developer, lost 93 per cent on July 8. Jayud Global Logistics shares saw a record 96 per cent plunge on April 2. China Liberal Education Holdings shares shed 98 per cent in one day in January, and then in June, the stock was suspended from trading by Nasdaq, which also denied a company request to continue its listing. In June, shares of Regencell Bioscience Holdings extended a rally from a February low 82,000 per cent before tumbling 87 per cent in a nine-day streak of losses. The company, which has reported six consecutive years of net losses, blamed the surge on a short squeeze, a phenomenon where short sellers rapidly buy back borrowed shares to exit a trade, sending the stock even higher. BLOOMBERG
Straits Times
16 minutes ago
- Straits Times
Malaysia PM Anwar says Trump to attend Asean Summit in October
Sign up now: Get ST's newsletters delivered to your inbox US President Donald Trump will attend the Asean summit in October. KUALA LUMPUR - US President Donald Trump will attend the Association of South-east Asian (Asean) summit in October, said Malaysian Prime Minister Anwar Ibrahim on July 31. Datuk Seri Anwar also said the US tariff rate on Malaysian goods will be announced on August 1, after he spoke to Mr Trump . Mr Anwar was speaking in Parliament to table the country's new five-year economic plan. REUTERS
Straits Times
an hour ago
- Straits Times
Cambodia urges Thailand to return soldiers taken in border clashes
Sign up now: Get ST's newsletters delivered to your inbox Cambodia said talks were under way for the release of 20 soldiers. Phnom Penh - Cambodia called on Thailand on July 31 to return 20 soldiers it said were taken captive hours after a ceasefire to halt the neighbours' bloodiest border clashes in decades. The two countries agreed a truce on July 29 following five days of clashes that killed at least 43 people on both sides – the latest eruption of a long-standing dispute over contested border temples on their 800km frontier. Bangkok said there were no reports of violence during the night up to 7am, after both sides traded allegations of ceasefire breaches on July 30. Cambodian defence ministry spokeswoman Maly Socheata said on July 31 that talks were under way for the release of 20 soldiers. 'We will do our best to continue negotiations with the Thai side in order to bring all our soldiers back home safely and as soon possible,' she told a briefing. 'We call on the Thai side to send all 20 military personnel back to Cambodia as soon possible.' The troops were captured around 7.50am on July 29, she said – nearly eight hours after the ceasefire came into effect. Top stories Swipe. Select. Stay informed. Asia US-Malaysia tariff deal expected after Trump-Anwar phone call on eve of Aug 1 deadline Asia Trump says US will set 15% tariff on South Korean imports under new deal Singapore Driver in 2024 Tampines crash that killed 2 set to plead guilty in October Multimedia 60 years, 60 items: A National Day game challenge Singapore Wegovy and beyond: Will weight-loss drugs change the way people look at obesity? Singapore $10 million Toto results to be announced on July 31, after no winners in last 3 draws Asia US CDC weighs travel notice for China as chikungunya cases rise Singapore 'Switching careers just as I became a dad was risky, but I had to do it for my family' Thailand's government said July 30 the detained soldiers were being treated in line with international humanitarian law and military regulations, and would be returned when the border situation stabilises. UN rights chief Volker Turk urged the neighbouring nations to implement their ceasefire deal in full and take rapid steps to build confidence and peace. 'This crucial agreement must be fully respected, in good faith, by both sides, as diplomatic efforts continue, in a bid to resolve the root causes of the conflict,' he said. The agreement to stop fighting was sealed in Malaysia after an intervention by US President Donald Trump – who both Thailand and Cambodia are courting for a trade deal to avert his threat of eye-watering tariffs. Nearly 300,000 people fled their homes as the two sides battled with jets, rockets and artillery along the rural border region, marked by a ridge of hills surrounded by wild jungle and agricultural land where locals farm rubber and rice. Thailand has said 15 of its soldiers and 15 civilians were killed, while Cambodia has confirmed eight civilian and five military deaths. The death toll is significantly higher than in the last major flare-up of violence on the border, when 28 were killed in sporadic fighting from 2008 to 2011. AFP
