SEOUL, Sept. 3 (Korea Bizwire) — A government-funded study, quietly withheld during South Korea’s contentious pension reform debate, has surfaced with stark warnings that elderly poverty could worsen dramatically under the current system, raising questions over transparency and policy priorities. The report, produced last December by researchers at the National Pension Research Institute, projected that if the [...]
SEOUL, May 15 (Korea Bizwire) — Assisting senior citizens in liquidating their assets is essential to addressing elderly poverty, which, in turn, may help boost local spending, the chief of South Korea’s central bank said Thursday. Bank of Korea (BOK) Gov. Rhee Chang-yong made the point during a symposium co-hosted by the BOK and state-run [...]
SEOUL, March 9 (Korea Bizwire) — South Korea’s elderly poverty rate, which was once the highest among Organization for Economic Cooperation and Development (OECD) member countries, has slipped to the 30 percent level for the first time. According to Statistics Korea, the nation’s elderly poverty rate for those aged 65 or older on the basis [...]
SEOUL, Nov. 3 (Korea Bizwire) – More South Koreans now believe society and the government need to play an active role in helping the elderly, a new report has revealed. According to the survey published by the Korea Institute for Health and Social Affairs, the number of people who believe it’s a family’s responsibility to support their [...]