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 [...]
SEOUL, Aug. 5 (Korea Bizwire) — South Korea’s largest companies now employ more workers in their 50s than in their 20s, a demographic shift that underscores slowing youth hiring amid persistent economic headwinds. As of the end of 2024, employees in their 20s accounted for 19.8% of the workforce at 124 major companies tracked [...]
SEOUL, May 27 (Korea Bizwire) — As South Korea grapples with a prolonged domestic slowdown, economists and policymakers are sounding the alarm over an increasingly potent structural threat: the country’s shrinking and aging population. Already facing stagnating consumer sentiment, high inflation, and global uncertainty, South Korea’s economy is now contending with the compounding impact of demographic [...]
SEOUL, May 19 (Korea Bizwire) — Facing changing demographics and a slowdown in core businesses like duty-free retail, South Korea’s leading hotel chains are pivoting toward the senior living sector, identifying it as a promising new growth engine in an aging society. According to industry sources, hotel companies such as Lotte Hotel & Resort, Hotel Shilla, [...]
SEOUL, July 13 (Korea Bizwire) – South Korea is on the cusp of becoming a “super-aged society” as its population of residents 65 and older surpasses 10 million, a demographic milestone that will see one in five citizens classified as elderly. According to data from the Ministry of the Interior and Safety, as of July 10, [...]
SEOUL, Jul. 11 (Korea Bizwire) – The population aged 65 or older has surpassed 10 million, accounting for 19.5 percent of the total officially registered population, the interior ministry said Thursday. The population of those aged 65 or over reached 10,000,062 as of Wednesday, out of a total population of nearly 51.27 million, according to [...]
SEOUL, Jan. 10 (Korea Bizwire) – South Korea’s elderly population aged 70 and older outnumbered those in their 20s for the first time last year, government statistics showed Wednesday, as the society is rapidly aging amid record low birth rates. According to the resident registration data compiled by the interior ministry, the number of people [...]
SEOUL, Dec. 4 (Korea Bizwire) – As “godoksa,” or solitary death, becomes a pressing social concern, a recent survey unveils that the average South Korean believes there is a 32 percent chance of facing such a fate. Godoksa refers to an isolated demise, where an individual passes away alone, disconnected from family, relatives, and others, with [...]
SEOUL, Sept. 30 (Korea Bizwire) – As more and more people in their 60s and older in Korea are dealing with depression, there’s a growing need to pay attention to mental health among the elderly, especially as the country is moving towards having a significant elderly population. In 2021, statistics from the Health Insurance Review and [...]
SEOUL, Nov. 16 (Korea Bizwire) — Experts are increasingly concerned over the issue of senior poverty caused by a lack of pension programs and other senior welfare policies as South Korea is becoming an aging society at twice the speed of Japan. The Korea Economic Research Institute (KERI) conducted a survey of 500 senior respondents [...]