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Economic size correlates directly with workforce size—the shrinking labor base will inevitably result in South Korea entering a permanent state of economic recession. Lives will be upended as essential services collapse due to lack of funding, and investments in the future dwindle.
Societal and Cultural Decline
The social deterioration accompanying this demographic decline is perhaps more alarming. Current statistics indicate that 20% of South Koreans live alone, and this is expected to reach 50% among those aged 70 by 2060. Loneliness will be rampant, and the culture itself may suffer an irreversible decline.