As aging accelerates across Asia, the race to harness technology for longevity — and to make growing old more livable — is fast becoming one of the region’s defining industrial frontiers. (Image supported by ChatGPT)
SEOUL, Oct. 7 (Korea Bizwire) — As Japan confronts the strains of a rapidly aging population with robots and digital care technologies, a new report is urging South Korea to follow suit and invest in “Age-tech” — a burgeoning industry combining artificial intelligence, robotics, and ICT to support the elderly.
According to a study released Monday by the Korea Trade-Investment Promotion Agency (KOTRA), Japan — the world’s most aged society — is expanding its Age-tech sector to offset severe labor shortages in nursing and elder care.
The Japanese government has been actively promoting technological adoption and funding initiatives to modernize its care infrastructure.
Age-tech broadly refers to technologies that integrate digital tools such as AI, robotics, and smart devices to enhance the quality of life for older adults and assist caregivers.
Once limited to simple care aids, the field now encompasses smart home services, personalized nutrition guidance, digital healthcare, financial management, and community engagement platforms — all aimed at helping seniors live independently at home rather than in nursing facilities.
Website of Japanese health-tech company ASKEN. (Image source: Screenshot from ASKEN’s official website)
Among notable examples is Asken, a Tokyo-based health-tech firm that offers AI-powered dietary tracking and counseling tailored to older users. The company’s user base among people aged 60 and older has surged 3.4-fold in four years.
Other Japanese innovations include wearable assistive robots, patient-lifting devices, and toileting support robots, all designed to ease the burden on care workers.
The country’s fintech sector is also adapting, with simplified apps that help seniors handle digital payments and banking more intuitively. Backed by this momentum, Mizuho Bank estimates that Japan’s silver economy will surpass ¥101 trillion (US$670 billion) this year — a 61 percent increase since 2007.
The Japanese government’s budget for aging-related programs rose 3 percent last year to ¥24.3 trillion, reflecting sustained investment in the sector.
Website of Japanese fintech company KAERU, which offers electronic payment services for seniors. (Image source: Screenshot from KAERU’s official website)
South Korea, which entered a super-aged society in 2024, faces similar challenges but at a faster pace. The Bank of Korea projects that the nation’s care worker shortage — 190,000 in 2022 — could balloon to up to 1.55 million by 2042, potentially leading to economic losses equivalent to 2.1–3.6 percent of GDP as families shoulder more caregiving responsibilities.
The Korea Health Industry Development Institute expects Korea’s silver industry to more than double from ₩72 trillion in 2020 to ₩168 trillion by 2030, underscoring the potential for Age-tech to emerge as a new growth engine.
KOTRA’s report emphasized that Korea should benchmark Japan’s public-private collaboration model, which links real-world care environments with technology developers through pilot projects and test-bed platforms.
“Both public and private sectors in Korea need to create partnership hubs for Age-tech innovation,” the report said, suggesting that local firms use existing open innovation programs to conduct demonstration projects and scale practical solutions for aging populations.
As aging accelerates across Asia, the race to harness technology for longevity — and to make growing old more livable — is fast becoming one of the region’s defining industrial frontiers.
Ashley Song (ashley@koreabizwire.com)
