Starting in 2018 Korea's population will begin to diminish and in turn become a much more multiracial society.
This is according to the country's Statistical Research Institute which in its latest report titled "Korea's Social Trends" said the country's overall population will begin to drop significantly in eight years time due to a staggeringly low birth rate.
In fact the report showed Korea taking the title of having the world's lowest birth rate in the past ten years.
The country's birth rate reached similar levels as that of advanced nations' in the mid-1980s but since then the rate has been on a downward spiral and in 2008 was recorded at 1.1-9.
Based on its compiled data the country's population growth rate between the years 2005 and 2010 has been 0.3 percent and by 2050 the total population is estimated to fall to 42.3 million, down 13 percent from 2009.
Demographers say since the late 1980s Korea has been seeing a steady rise in the number of international marriages between immigrant women and Korean men and with this trend most likely to continue the country's population will increasingly become heterogeneous in the years to come.
However, they pointed out that it will still take some time for Korea, a now multiracial country to truly become a multicultural society as discrimination toward certain ethnicities due to their nationality especially those from developing countries is an undeniable problem in Korea's society today.
Meanwhile the outlook for the country's youth labor market is similarly grim.
With more graduates than jobs available the overflow of supply is expected to make it difficult for new grads to find employment at least for the first year after graduation.
Jang Ji-yun, Arirang News.