SEJONG, Sept. 28 (Korea Bizwire) – A recent government report reveals that more than one in three elderly South Koreans living alone have no one to talk to, highlighting a growing crisis of isolation among the country’s aging population. Statistics Korea released its 2024 Elderly Statistics report on September 26, painting a stark picture of the [...]
SEOUL, Jan. 6 (Korea Bizwire) – In a nation grappling with low birth rates, a controversial debate is taking root among its younger generation. The crux of the argument: Should financial status be a barrier to starting a family? This discourse, which is gaining momentum on social media, pits the ideal of preventing the inheritance of [...]
SEOUL, Dec. 20 (Korea Bizwire) – South Korea remains at the forefront of an undesirable statistic among the member countries of the Organisation for Economic Co-operation and Development (OECD) – the highest senior poverty rate. This has been a persistent trend since the OECD began releasing data on each country’s elderly poverty rates in 2009. According [...]
SEOUL, Sept. 26 (Korea Bizwire) – A researcher from a renowned national institution has asserted that South Korea’s elderly poverty rate is the highest among major developed countries, even when considering assets in addition to income. Until now, it has been argued that calculating the elderly poverty rate solely based on income levels is an illusion, [...]
SEOUL, June 27 (Korea Bizwire) — The relative poverty rate among retired seniors in South Korea is the highest among all Organization for Economic Cooperation and Development (OECD) member states, data showed Monday. According to data released by Statistics Korea, the relative poverty rate for South Korean seniors aged over 66 was 43.2 percent in [...]
SEOUL, June 4 (Korea Bizwire) — More than 3 out of 10 South Korean senior citizens work low-wage jobs after retirement to help cover their living costs, and their poverty rate still remains high among the members of the Organization for Economic Cooperation and Development (OECD), a report showed Sunday. The employment rate among those [...]
SEOUL, April 9 (Korea Bizwire) — Nearly half of single-member households were in the poor class and the proportion among senior citizens came to nearly 70 percent, a report showed Sunday. The relative poverty rate of one-person households came to 47.2 percent in 2020, compared with 15.3 percent for all households, according to the report [...]
SEOUL, March 15 (Korea Bizwire) – Altough South Korea has a national pension service along with a basic pension for the elderly, the poverty rate among seniors remains high. According to the data from Statistics Korea, the poverty rate among seniors in the country stood at 37.6 percent in 2021, down by 1.3 percentage points from the previous year. [...]
SEJONG, Oct. 25 (Korea Bizwire) — South Korea ranks fourth in relative poverty among major economies in the world, data showed Monday, in a sign of its high income inequality. The country’s relative poverty rate, referring to the percentage of people with an income below 50 percent of the median income, came to 16.7 percent [...]
SEOUL, Dec. 12 (Korea Bizwire) — The elderly in South Korea participate in long-term economic activities to support themselves, but the poverty rate is very high. According to a recent report from the National Assembly Research Service (NARS), Koreans’ life expectancy stood at 82.4 years as of 2016, ranking 10th among 36 Organization for Economic [...]