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The economic ramifications will be severe. As of 2023, 40% of South Koreans over 65 live below the poverty line; by 2060, this figure could worsen dramatically. Presently, South Korea boasts one of the largest pension funds globally, but projections indicate it will stop growing by the 2040s and face depletion by the 2050s. With a rapidly shrinking workforce of approximately 17 million by 2060, there will not be enough contributors to maintain the pension system, inevitably leading to widespread poverty among the elderly and a struggle for survival among the working population.