The generation of babyboomers has a significant impact on the socio-economic development of the society in general. The Korean Babyboomers will soon leave from their workforce as they reach the retirement age. This, coupled with the low fertility rate, may cause a serious social problem in the society at large as well as the social welfare issues among the Korean elderly population. The Central Statistical Systems have estimated the future projection which plays critical role to establish fundamental basis for the social and economic policies of the nation. This study examined the effect of the babyboomers on the life expectancy by comparing forecasted life expectancies provided by the statistical office and the previous studies in the related areas. The study also suggested a future population projection based on fertility rates provided, along with the changes of the number of babyboomers as they become ageing. The study results with the comparison between the population projection by the statistical office are provided.