A recent survey has revealed the emergence of a “new elderly” demographic in South Korea, characterized by higher income, better education, and shifting values regarding inheritance and self-perception of age. (Image courtesy of Yonhap)
SEOUL, Dec. 25 (Korea Bizwire) — South Korea has officially entered the ranks of a “super-aged society,” with one in five residents now aged 65 or older, sparking renewed debate over raising the official age threshold for seniors.
The issue is tied to pressing concerns such as pension reform, retirement age extension, and the economic strain posed by a rapidly aging population.
As of December 23, South Korea’s population aged 65 and older reached 10.24 million, representing 20% of the total—a benchmark for super-aged societies, according to the United Nations. The country reached this milestone just months after surpassing 10 million seniors in July.
The senior age threshold, defined as 65 in both South Korean law and UN guidelines, has been increasingly questioned due to rising life expectancy. Calls for adjustment intensified this October when Lee Jung-geun, chairman of the Korean Senior Citizens Association, proposed raising the age to 75. Prime Minister Han Duck-soo acknowledged the suggestion, saying it warrants serious consideration.
As South Korea enters a super-aged society with residents aged 65 and older accounting for over 20% of the registered population, elderly citizens line up on December 24 in front of the free meal service center at Wongaksa Temple in Tapgol Park, Jongno District, Seoul. (Yonhap)
Proponents argue that societal perceptions have shifted, with many now viewing 65 as “still youthful.” A 2023 survey revealed that Koreans over 65 generally consider themselves seniors at an average age of 71.6. Raising the age could also help mitigate the declining labor force and growing welfare demands caused by the aging population.
However, concerns persist about potential reductions in benefits, especially as South Korea grapples with the highest senior poverty rate among OECD countries. Resistance is expected from seniors who may lose access to perks like free subway rides and basic pensions.
Pressing Need for Pension Reform and Retirement Age Extension
Despite the controversy, experts emphasize the need for a comprehensive and sustained dialogue on the issue. “Raising the senior age must be a gradual process to avoid significant disruptions,” said Jung Jae-hoon, a professor at Seoul Women’s University, adding that discussions should start immediately to ensure policy continuity across administrations.
Jung and other scholars advocate for exploring alternatives to the current age-based criteria, including functional assessments of physical and cognitive capabilities. “The debate should extend beyond age to include a broader reconsideration of welfare standards,” Jung said.
Super-Aged Society (Image created by AI)
The debate is also closely tied to stalled reforms, including pension adjustments and extending the mandatory retirement age. South Korea’s statutory retirement age of 60 lags behind the national pension eligibility age of 63, which will rise to 65 by 2033. Without reforms, the gap risks leaving older workers financially vulnerable.
Previous administrations have raised the issue, with the government’s third Basic Plan for Low Birthrate and Aging Society (2016–2020) proposing gradual age increases. In 2019, the then-Minister of Health and Welfare Park Neung-hoo advocated social discussions on raising the senior age to 70.
As South Korea navigates its demographic challenges, experts agree that delays in addressing pension sustainability and workforce participation could jeopardize long-term economic stability.
Lina Jang (linajang@koreabizwire.com)
