SEOUL, Sept. 28 (Korea Bizwire) — South Korea’s population is rapidly aging as people aged 65 or older account for nearly 16 percent of its population, government data showed Monday. South Koreans in the age group stood at 8.13 million this year, or 15.7 percent of the country’s population, according to the data from Statistics [...]
SEOUL, Jan. 6 (Korea Bizwire) — As South Korea enters an aged society, the so-called ‘silver’ industry – denoting products and services targeted to seniors – is expected to grow rapidly. Among them, the food industry is expected to be the most promising. In a report released Sunday, the Korea Institute for Industrial Economics and [...]
SEJONG, Dec. 9 (Korea Bizwire) — Workers in South Korea hit the highest average annual earnings at the age of 41 in 2016, data showed Monday, with the labor income of the elderly also showing a steady rise. People aged 41 earned the highest average annual labor income of 32.09 million won (US$26,977) in 2016, [...]
DAEJEON, Oct. 7 (Korea Bizwire) — With South Korea entering an aged society, the demand for rehabilitation aids or mobility assisting devices for the elderly is expected to grow. According to the Korean Intellectual Property Office (KIPO) on Sunday, 686 patent applications for rehabilitation aids were filed in the five years from 2014 to 2018, [...]
SEOUL, Oct. 6 (Korea Bizwire) — Seniors are the chief breadwinners for South Korea’s poorest households, with such family units generally having less than one member holding a steady job, data showed Saturday. According to the data from Statistics Korea, the average age of the chief breadwinners for households making up the bottom 20 percent [...]
SEOUL, Sept. 17 (Korea Bizwire) — Seoul is getting smaller and older in terms of population and could soon cease to be a megacity with over 10 million inhabitants, the capital’s government said Tuesday. According to the city government, the total number of residents in the capital was 10,049,607 as of the end of last [...]
SEJONG, Jun. 27 (Korea Bizwire) – The number of South Koreans aged 65 years or older could surpass 10 million in 2025 and jump to 18.79 million, or 38.4 percent of the country’s population, in 2047, a statistics agency said Thursday. Statistics Korea’s latest projection represented a dramatic hike from the 7.07 million people aged [...]
SEOUL, Dec. 12 (Korea Bizwire) — The number of infants born in Seoul came to an average of 179 per day last year, dipping below the threshold of 200 for the first time as more people are delaying or shunning marriage, data released Wednesday by the Seoul metropolitan government showed. According to the Seoul Statistics [...]
SEOUL, Mar. 22 (Korea Bizwire) — South Korea’s population is expected to decline after 2032 due to low birthrates, government data showed Thursday, a development that could hurt the country’s growth potential. The population of Asia’s fourth largest economy stood at 51.45 million in 2017 and is projected to reach peak at 52.95 million in [...]