The pulse of South Korean society—its population in their 20s—is steadily fading.

According to the Population and Housing Census (Registered Census) results released by the National Statistical Office (formerly Statistics Korea) on October 12, the number of South Koreans in their 20s stood at 6.302 million last year, a decrease of 193,000 from the previous year. Meanwhile, the population aged 70 and over reached 6.543 million, surpassing those in their 20s for the first time since population records began. This demographic shift has not occurred since 1925.

The population of people in their 20s peaked at 7.03 million in 2020, but has now fallen for four consecutive years. Despite variable factors such as foreign inflows, the cohort has declined by 140,000 to 210,000 annually, making those in their 20s now the smallest group among South Korean adults—a so-called ‘minor generation.’

In contrast, last year the largest age group was those in their 50s (8.713 million), followed by those in their 40s (7.809 million) and 60s (7.791 million).

These demographic changes are also weakening employment indicators. As of August, the employment rate for people in their 20s was 60.5%, down 1.2 percentage points from a year earlier. Since August last year (61.7%), the employment rate for this demographic has either declined or stagnated for 12 consecutive months, showing no clear sign of recovery. The unemployment rate for people in their 20s in the same month rose 1.0 percentage points to 5.0%—the highest in three years, since 2022.

Changes in recruitment practices are also disadvantaging young job seekers. Amid a trend of reduced open recruitment and increased experienced and sporadic hiring by large companies, a survey by the Korea Economic Research Institute showed that 28.1% of so-called “new hires” with university degrees at Korea’s top 500 firms last year were, in reality, experienced workers. This marks an increase of 2.3 percentage points from the previous year (25.8%), suggesting that the line between new and experienced hires is blurring.

Other factors exacerbating the youth job crisis include a sluggish manufacturing sector due to US tariff policies and a downturn in the construction industry. Experts warn that the rising barriers to societal entry faced by those in their 20s are discouraging marriage and childbirth, which could erode the momentum of the Korean economy in the long run.

Kwak Seok Kim, head of the Economic Research Division at the Korea Institute of Economic Industry, commented, “The decline in the population of people in their 20s and worsening job prospects is not merely a generational issue—it signals fundamental challenges to national competitiveness,” adding, “This could reinforce a vicious cycle that worsens both low birthrates and population aging.”

Note “This article was translated from the original Korean version using AI assistance, and subsequently edited by a native-speaking journalist.”

Photo=Yonhap News