Elderly to account for most single-person households by 2052

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Elderly to account for most single-person households by 2052

Published: 12 Sep. 2024, 17:45 Updated: 12 Sep. 2024, 17:47

SHIN HA-NEE
shin.hanee@joongang.co.kr

A sign reading ″Let's strive for a balanced lifestyle with a healthy body, mind and friendships″ stands at a support center for single-person households in Seongdong District, eastern Seoul, on July 29. [YONHAP]

As the aging trend persists, the elderly population is expected to be the largest demographic for single-person households in Korea by 2052, according to a projection by Statistics Korea.

While the growth in the number of households is expected to peak in 2041, the average number of household members will fall below 2 in the next decade.

Statistics Korea released its 30-year projection for household composition in the country covering 2022 to 2052 on Thursday, a report that is released every two to three years.

The latest report showed that the number of households in Korea is forecast to reach a peak of 24.37 million by 2041, compared to 21.66 million in 2022, before taking a downturn and shrinking to 23.28 million by 2052.

Meanwhile, the average number of household members will see a gradual decline from 2.26 in 2022 to 1.81 by 2052, meaning that the growth in the number of households will be driven by the increase in single-person households.

By 2052, single-person households are expected to account for 41.3 percent of the total, up from 34.1 percent in 2022. The proportion of families with parents and a child is expected to decline from 27.3 percent to 17.4 percent, driven by a plunging birthrate.

The statistics agency expected that the elderly population will be the dominant demographic for single-person households by 2052.

In 2022, individuals in their 30s or younger took up the largest share of single-person households at 36.6 percent, yet the figure is forecast to drop to 18.1 percent in the next 30 years. On the other hand, the senior population aged 70 or older, which accounted for 18.4 percent in 2022, will rise to 42.2 percent by 2052.

The proportion of single-person households in Korea is estimated to be higher than that of Britain and Australia at 40.8 percent by 2042, but lower than Japan’s 43.7 percent and Germany’s 45.3 percent.

BY SHIN HA-NEE [shin.hanee@joongang.co.kr]