Korea's population is aging at a faster pace than any other major country, and the adverse impact of this trend on the economy is predicted to be significant. This paper focuses on the macroeconomic effects of population aging with particular attention paid to the pace of aging in Korea....

- Korea is aging at a faster pace than any other major country, and the negative impact on the economy is expected to be considerable. - In thirty years, the old-age dependency ratio is projected to exceed 70% and GDP growth to mark around the 1% range. This would pose a tremendous threat to...