“South Korea to go extinct by 2750,” says the Wall Street Journal, citing a simulation commissioned by the Korean National Assembly.
Of course the framing is silly, but it highlights the severity of the demographic problem Korea faces, one that was at least accelerated by misguided government policy.
It’s worth comparing Korea’s population growth over the last century to that of the Philippines.
As of 1960, the Philippines’ population was only about 5% larger than Korea’s. Today, it’s nearly twice as big.
A South Korea with 70 or 80 million people would be a far more secure and influential country than it is today.
Of course, Korea’s per capita income and standard of living are much, much higher than the Philippines. But the same is same true of China. Catch-up economic growth is hard, but doable. Catch-up population growth is another matter.
All countries will face such a demographic decline eventually, but those countries will have the advantage that manage to push it as far into the future as possible. In this regard, the United States is doing a better job than any other advanced country.
The Seoul Perspective 