SEOUL, Aug. 23 (Korea Bizwire) — South Korea’s manufacturing workforce has been aging fast over the past 10 years, stoking concerns that it may undercut the country’s growth potential drastically down the road, a report said Monday. People aged 50 and older accounted for 30.1 percent of the country’s total manufacturing workers in 2020, up [...]
SEOUL, Sept. 7 (Korea Bizwire) — South Korea is expected to see the number of single senior household heads jump in the future and exceed 1 million in about a quarter-century, a government agency said Thursday. According to Statistics Korea, the number of unmarried household heads aged 65 and older is forecast to increase steadily [...]
SEOUL, Feb. 7 (Korea Bizwire) – South Korea’s rapid population aging may make the country’s monetary policy virtually ineffective down the road by neutralizing its ripple effect on the real economy, a report said Tuesday. According to the report based on the data of 25 members of the Organization for Economic Cooperation and Development between [...]
SEOUL, May 14 (Korea Bizwire) – Korea’s aging society is affecting both consumers and businesses, as both the working class and consumers are growing older. According to the Hyundai Research Institute, the market for senior citizens was valued at 27 trillion won in 2012. The market is expected to increase by an average of 13 [...]