SEOUL, April 13 (Korea Bizwire) – Last year, South Korea’s banking industry saw its employee count drop by 2,248 to 114,775, and 175 bank branches closed down – the biggest drop ever – with the number of ATMs falling to 48,474 from 51,115. The trends are reflective of the inevitable prevalence of internet banking. Bank [...]
SEOUL, April 7 (Korea Bizwire) – With South Korea’s population aging expected to accelerate, the market for food targeting senior consumers is also growing, according to a recent government report. A 2015 food market analysis report by the Ministry of Agriculture, Food and Rural Affairs (MAFRA) and Korea agro-Fisheries & Food Trade Corporation (aT), showed [...]
SEOUL, Feb. 14 (Korea Bizwire) – Three new government initiatives will make use of the latest smart devices to help improve the lives of elderly farmers and the disabled. The Ministry of Science, ICT and Future Planning and the Institute for Information & Communications Technology Promotion, in partnership with the local governments of Andong, Jeonju, [...]
DAEJEON, Jan. 24 (Korea Bizwire) – An increasing number of technology patents that might help guarantee health and safety improvements for single-person elderly households are being introduced. According to the Korea Intellectual Property Office, the average annual number of such patents in the past five years (2012 – 2016) was 153, more than twice the [...]
SEJONG, Jan. 17 (Korea Bizwire) – The poverty rate for working low-income elderly people reached close to 62 percent in 2015, according to government statistics on Tuesday, showing that some of the aged population cannot sustain themselves even when they have jobs. Records collected from Statistics Korea, Bank of Korea and the Financial Supervisory Service [...]
SEOUL, Jan. 13 (Korea Bizwire) – South Korea’s urbanization has left very few young people and children in rural areas. This has naturally led to a declining number of students at elementary, middle, and high schools outside of urban areas, many of which have been closed down, with some of the empty buildings now serving [...]
SEOUL, Nov. 30 (Korea Bizwire) – Tapgol Park, located in central Seoul, is a popular destination for local seniors, with some 6,000 elderly visitors flocking to the park each day. In a move that is sure to appeal to the park’s faithful, construction work on an adjacent street has recently been completed, with a new [...]
SEOUL, Nov. 28 (Korea Bizwire) – The results of a recent study indicate that grandparents who take care of their grandchildren are usually healthier than those who don’t. On November 27, Prof Ahn Tae-hyun published the results of a survey (2008 to 2014) targeting 8,587 people who were over 45 years old. The research team [...]
SEOUL, Nov. 18 (Korea Bizwire) – On Wednesday, the South Korean parliament passed a revised bill for the Welfare of the Aged Act, which includes a ban on emotional abuse of the elderly, a decision that is seen as an enforcement of filial piety, given the increasing prevalence of violence against the elderly in Korea, [...]
SEOUL, Nov. 10 (Korea Bizwire) – A growing number of elder South Korean citizens are traveling abroad, prompting local travel agencies to offer new options to lure affluent seniors with ample leisure time, industry officials said Thursday. The latest trend reflects the changing demographic trend in the rapidly aging society as more baby boomers retire [...]