Direction and Tasks of Future Social Policymaking in Response to Demographic Changes

Abstract

In this report, recognizing the need for a new paradigm of population policy capable of responding with greater flexibility to the falling birth rates and aging of Korean society, we explore, in depth, the forecasted changes of various aspects of society due to these demographic changes, and identify policy implications for Korean society in the future. Our focus is the sweeping and macro-level effects of demographic changes due to the decrease in the number of newborns and the overall population, on the one hand, and population aging, on the other.

Demographic changes are entwined with social changes at large, requiring diverse policy measures for concerted structural responses. Policymakers should thus design policies that have room for flexibility and growth, while closely monitoring demographic changes, so as to help individuals adapt to social changes while also respecting their freedom of choice. Policy responses are expected to exert transformative effects on all areas of policymaking, including economics, finance, social security, transportation, and the urban environment. Active efforts are needed to minimize and counter the adverse effects of these demographic changes in all these areas. We expect our analysis to contribute to the efforts being made to help Korea better manage its falling birth rates and population aging by shifting the focus of future social policy from meeting abstract policy objectives to enhancing quality of life for individuals.