Data from an international organization shows that South Korean society is aging at a rapid pace.

According to data from the Organization for Economic Cooperation and Development (OECD), South Korea is projected to have 65 elderly men and women for every 100 members of its workforce by 2050.

Quoting the OECD data, the Bank of Korea said on Wednesday that the aged dependency ratio, or the number of people aged 65 or older for every 100 people aged 15 to 64, will increase to 65.6 percent in 2050 from 11.2 percent in 2000.

The ratio is the second largest among OECD member nations, exceeded only by Japan's 67 percent.