A domestic think tank says the nation should raise the employment rate in order to maintain the current gross domestic product(GDP) level through a flexible labor market.

The Korea Economic Research Institute(KERI) projected on Tuesday in a report that in 2026, when the country is expected to enter into a super-aged society, its GDP will decrease seven-point-95 percent from 2014.

A super-aged society refers to a society with the rate of the population aged 65 or over exceeding 20 percent.

The county’s elderly population is expected to reach 35-point-15 percent in 2050, a year when the GDP is projected to plunge 21-point-nine percent from 2014.

The private think tank suggested the country should raise the employment rate to offset the GDP from faltering as a result of the demographic reality.