Korea's demographic timebomb | WARC | The Feed

Korea's demographic timebomb

South Koreans are increasingly likely to live alone and to remain unmarried as they get older, according to government data. 

By the numbers

• Some 9.37 million households, 40% of the total, are single-person, The Chosunilbo reports (two-person households account for 24%, three persons 17% and four or more 19%).
• The number of one-person households has increased by 1.92 million over the past five years.
• The fastest growth has come among those in their 20s, up 61% to 1.47 million; one in five twenty-somethings now lives alone.
• Forty-two percent of Koreans in their 30s are not married (up from 36% in 2016), according to census data cited by Yonhap. 

 Why it matters

 A government minister has spoken of the need “to design policies to suit the lifestyle of singles, which affects a wide spectrum of society, the economy and culture”. Brands too will have to design products and services that take account of changing household configurations and lifestyles.

 Sourced from The Chosunilbo, Yonhap