In less than 90 years, Korea's population could drop by 11 million from the current 48 million people.

The numbers come from the latest UN Population Report, which said Korea's population is likely to peak at around 50 million in 2030 before going down to 37 million in 2 100.

The government attributes the forecast to the country's low birthrate and its quickly aging population.

The report said that the world population will reach 7 billion at the end of this year, then rise to 9.3 billion by 2050 and hit just over 10 billion in 2100. Korea had the lowest birthrate in the OECD in 2009 with 1.15 children per woman.