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Growing Depression Among S. Koreans in Their 50s and 60s as Society Ages

Growing Depression Among S. Koreans in Their 50s and 60s as Society Ages

SEOUL, Mar. 25 (Korea Bizwire) — South Koreans’ perception of “well-being” improved slightly last year, but things were different for those in their 50s and 60s. Those excluded from the labor market and the community were more depressed than other age groups, and their satisfaction with life itself and income levels was also lower. As [...]

Aging Population to Pressure Long-term Credit Ratings for S. Korea: Moody’s

Aging Population to Pressure Long-term Credit Ratings for S. Korea: Moody’s

SEOUL, Nov. 1 (Korea Bizwire) — The aging of the workforce will put pressure on South Korea’s economic and fiscal strength and affect its long-term sovereign credit profiles, a global ratings agency has said. In its latest report, released Wednesday, Moody’s Investors Service said the credit ratings of South Korea and Japan will come under [...]

40 Percent of S. Korean Municipalities at Risk of Being Abolished: Survey

40 Percent of S. Korean Municipalities at Risk of Being Abolished: Survey

SEJONG, Aug. 13 (Korea Bizwire) — About 40 percent of South Korean municipalities may be abolished in the future because of declining birthrates and an aging population, a survey by a state-run research institute showed Monday. Lee Sang-ho, a researcher at the Employment Information Service, released the study, conducted in June, which measured the sustainability [...]

More Patents for Protecting the Elderly

More Patents for Protecting the Elderly

DAEJEON, Jan. 24 (Korea Bizwire) – An increasing number of technology patents that might help guarantee health and safety improvements for single-person elderly households are being introduced.  According to the Korea Intellectual Property Office, the average annual number of such patents in the past five years (2012 – 2016) was 153, more than twice the [...]

S. Korea’s Population Likely to Start Shrinking in 2032

S. Korea’s Population Likely to Start Shrinking in 2032

SEJONG, Dec. 8 (Korea Bizwire) – South Korea’s population is expected to start contracting in 2032 amid widespread concerns that the country’s chronic low birthrate and aging citizens will undermine growth potential, a government report showed Wednesday.  According to the report by Statistics Korea, Asia’s fourth-largest economy will likely see its population peak at 52.96 [...]

Elderly Hold Key to Korea’s Consumption Growth

Elderly Hold Key to Korea’s Consumption Growth

SEOUL, Nov. 9 (Korea Bizwire) – Amid stagnant growth of local household consumption, a recent study indicated that the elderly will play an essential role in leading Korea’s future consumption.  According to the report – Consumption Status of the Elderly and its Implications – compiled by the Bank of Korea’s research bureau, the contribution rate [...]