| Population aging is the common phenomenon in the world. Compared to the developed countries in the world, South Korea has the low aging degree, but the aging of South Korea is rapidly developing. The population aging plays the active role in prolonging the mean lifespan, but it will bring about a series of economic problems of labor, capital, growth, finance and industrial structure, etc.The late developed industrialization and compressed economic growth of South Korea bring about the rapid development of aging. The population growth rates of all the countries in the world rise with the development of industrialization and decrease with the increasingly maturing of industrialization. Especially with the acceleration of aging of South Korea, the aging research has become the imminent topic. Therefore, it requires that we shall deal with the aging phenomenon in a short period of years.The research aims at knowing the present situation of aging of South Korea and its impacts on economy and seeking the resolutions.The social definition and features of aging are first dealt with, the present situation of aging and the main reasons for its occurrence is known and the impacts of aging on economy and the main problems existing are studied in the paper. And then, the detailed analysis of the impacts of aging of South Korea on economy is made and the resolutions are sought.The aging is defined according to the proportions of aged population composition of the United Nations (classified according to the countries). According to the population structure, the country with the aged population accounting for less than 4% is called the young population country, the country with the aged population accounting for 4%-7% is called the mature population country and the country with the aged population accounting for over 7% is called the aged population country. The aged population countries can also be divided into the following types. The country with the aged population accounting for more than 7% and less than 14% is called the aging society, the country with the aged population accounting for more than 14% and less than 20% is called the aged society and the country with the aged population accounting for more than 20% is called the super-aged society. The proportion of the aged population of South Korea in August, 2000 is more than 7%, which indicates that South Korean has entered the aging society.The aging society has the following features.1) The institutions of labor market are changed, for example, the employment structure tends to be aging, the rate of participation in the economic activities is decreased and the growth of labor productivity is low, etc.2) A series of aged problems such as aged diseases and dissimilation, etc.3) The new aged culture is established.4) Increasing of some social welfare demands such as medical and social security demands as well as aged aliments, etc.5) Development of the aging affiliation (aged affiliation) industry and some relevant aged industries of accommodation, medical care, leisure and recreation, etc.The proportion of the aged population at the age of more than 65 years old is 7% in 2000, it will reach 14% in 2019 and it will be more than 20% in 2026. The proportion of the young population less than 15 years old reaches 43.9%, the maximum point in 1966 and is always decreasing. The population more than 15 years old and less than 64 years old, as the undertakers of production is not influenced by aging and will still continuously grow in a certain period of time. It will reach 72.2%, the maximum one in 2014 and will have been decreased to 55.1% by 2050.There are the following main reasons for occurrence of aging of South Korea. In the society today, people attach importance to self-realization and improvement of living standard and pay less attention to children. The change of such a value outlook brings about the low birth, which becomes one of the reasons for population aging.With the improvement of the national nutritional level and health care level, people has started to pay attention to the health problems, which prolongs the mean lifespan and makes the aged population sharply rise. The life expectancy of South Korea in 2001 is 76.5 years old (72.8 years old for men and 80.0 years old for women), an increase of 10.4 years old and 4.8 years old than 66.2 years old in 1981 and 71.7 years old in 1991, respectively.The burden brought about by the children's educational expenses is also one of the reasons for the low birth. In the monthly average consumption expenditure of the urban worker's families, the proportion of the educational expenses is increased from 8.7% in 1993 to 11.4% in 2003. The burden caused by the children's educational expenses is continuously increased, and especially the burden for expenses for extracurricular tutorship is the heaviest.In addition, a series of changes of the attitude toward marriage such as reduction of 20-30-year-old populations influencing the fertility rate, extended study, some social activities postponing the marriage age, escape from birth and celibacy etc. make the marriage rate gradually reduced.Infertility is also another reason for reducing the birth rate. There are about 0.64 million infertile families without children, a couples are infertile in 7-8 couples and there are 40000 infertile couples every year.It is generally thought in society that it is the women's responsibility for bringing up the children and family labor. Such social awareness influences the women and causes the women to escape from birth. It is thought that the better the less the children. Although the children are reduced, the fostering burden is increasing, which brings about the vicious circle of escape from birth.The aging of South Korea is not only the representation of population reduction but also the representation of reduction of laborers. The reduction of laborers directly influences the labor input, which will influence the economic growth.With the increasing of the life expectancy, there is an annual average decrease of personal consumption growth rate and the total savings ratio will also be reduced. The savings ratio will be increased by 0.8% every time 1 year old is increased. However, the savings ratio of young and aging population is far less than that of the laborers. The reduction of the proportion of laborers will reduce the total savings ratio. The reduction of the savings ratio will prevent the capital accumulation, which will directly or indirectly influence the economic growth of South Korea.The populations above the medium age reduce the expenditure for consumption for the savings in the future, which will reduce the social welfare level. The pension reduces the disposable income of the young and medium-aged people and reduced the expenditure for consumption, which will also reduce the social welfare level.The change of the population structure will greatly influence the employers' average human capital. The increasing of the proportion of the brought-up population will cause the reduction of the savings ratio and reduce the capital accumulation and the economic growth rate.The aging of laborers influences the operation of enterprises. The proportion of 10-19-year-old employees is sharply reduced after 1970, the proportion of 20-24 years old employees begins to be reduced after 1980, the proportion of 26-29 years old employees begins to be reduced after 1990, the proportion of 30-35 years old employees reaches the peak in 1990 and then begins to be reduced and the proportion of 36-39 years old employees reaches the peak in 2000 and then begins to be reduced. On the contrary, the proportion of 40-60 years old employees is continuously increasing and the aging of the employees is represented as a whole.Viewed from the social insurance, the aging population receiving pension is sharp rising more than the aging population paying insurance. The pension receivers will be 20% more than the insurance payers after 2020, which will more and more prevent the perfect development of finance.The proportion of more than 65-year-old aged people in the health insurance receivers is increased from 7.1% in 2002 to 8.3% in 2005. On the contrary, the expenditure for the health insurance and treatment of the aged people more than 65 years old is increased from 19.3% in 2002 to 24.4% in 2005. The annual average growth rate of the insurance receiving aged people is 18.8% in 2003-2005, an increase of 12.7% than that in the same previous period, which also becomes the main reason for increasing of the expenditure for health insurance.With the development of population aging, there will be more than more aged people needing recuperation for long time. This will increase the investment expenses for the recuperation facilities and welfare facilities for the aged people, which will bring the negative impacts on the health insurance finance.On the whole, the aging phenomenon of South Korea is the historical product of economic development. We shall not only seek the treatment measures from the perspective of population but also seek the treatment measures through improving the economic system. In the process of aging, South Korea shall take into full account all the systems related to the population structure and avoid the unfavorable impacts on the aging society in the future brought about by these systems, that is, some relevant pension, welfare, labor and financial market systems, etc. shall be established for the rapid developing population aging. Otherwise, with the development of aging, these systems will influence the economic development. The relevant policies of population aging will effectively improve all the systems unsuitable to the change of the population structure and make these systems not become the factors of preventing the economic growth and macro-economy in the future.
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