A private think tank expects South Koreans’ burden of social welfare costs will increase by more than 50 percent by 2040.

The Korea Economic Research Institute (KERI) said in a report on Monday that each South Korean will have to burden up to four-point-91 million won in social welfare expenses in 2040 as the nation’s working-age population is expected to decrease by 22 percent.

The projected burden was largest in South Jeolla Province, followed by North Jeolla at four-point-one million won and North Gyeongsang Province at three-point-seven million won.

The expected growth in the per capita burden between 2016 and 2040 was largest in Busan with 50-point-one percent, followed by Daegu with 47 percent and North Gyeongsang Province with 38 percent.