aging society Archives | Be Korea-savvy
For the First Time, Population Aging Accelerates as Individuals Aged 70 and Older Surpass Those in Their 20s in Numbers.

For the First Time, Population Aging Accelerates as Individuals Aged 70 and Older Surpass Those in Their 20s in Numbers.

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 [...]

South Koreans Fear Solitary Death Amid Economic Struggles

South Koreans Fear Solitary Death Amid Economic Struggles

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 [...]

Surging Depression Rates Among Korea’s Elderly Linked to ‘Feeling of Loss’

Surging Depression Rates Among Korea’s Elderly Linked to ‘Feeling of Loss’

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 [...]

Experts Concerned About Senior Poverty in S. Korea as Aging Society Takes Speed

Experts Concerned About Senior Poverty in S. Korea as Aging Society Takes Speed

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 [...]

Less Spending on Food, More Spending on Health and Medical Care

Less Spending on Food, More Spending on Health and Medical Care

SEOUL, Nov. 19 (Korea Bizwire) — With a historically low birth rate and rapidly aging society, a surge in single-person households has meant that household grocery expenditures have been slashed almost by half in South Korea. According to a recent report from the Hana Institute of Finance affiliated with KEB Hana Bank that analyzed public [...]

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 [...]