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. 27 (Korea Bizwire) – The current state of the labor market in South Korea is more challenging than prior to the pandemic, with the workforce aging rapidly and showing reduced enthusiasm for strenuous manufacturing roles, as per a recent survey. To address this, recommendations include recruiting more international students and middle-skilled foreign workers possessing [...]
SEJONG, Dec. 15 (Korea Bizwire) – Statistics Korea released a forecast on Thursday depicting a rather grim outlook for South Korea in 50 years. The anticipated population is set to dwindle to 36 million, with half of the populace aged 63 or older. Consequently, there is a growing concern about the growing burden of supporting the [...]
SEOUL, Nov. 9 (Korea Bizwire) — Amorepacific Group, South Korea’s leading cosmetics firm, said Tuesday its research team had found a link between the increasing metabolic substances caused by a restricted diet and the delay in aging. A joint research team from Amorepacific and Sungkyunkwan University made use of bio big data and molecular biology [...]
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 [...]