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Survey Reveals Most South Korean Adults Unprepared for Future Elderly Care Needs

Survey Reveals Most South Korean Adults Unprepared for Future Elderly Care Needs

SEOUL, Jan. 29 (Korea Bizwire) – A recent survey has highlighted that the majority of adults in South Korea are not adequately prepared for the eventual need for elderly care, which becomes necessary due to aging or age-related diseases that hinder daily activities.  The Korea Insurance Research Institute (KIRI) conducted a survey among 1,900 adults aged [...]

Nearly Half of Older South Koreans Lack Support in Financial Emergencies, Study Reveals

Nearly Half of Older South Koreans Lack Support in Financial Emergencies, Study Reveals

SEOUL, Jan. 11 (Korea Bizwire) – A recent study by the National Pension Research Institute has uncovered a concerning reality for South Korea’s older population. Nearly half of the individuals over 50 years old find themselves without support in times of sudden financial need.  As part of the study, over 6,200 people aged 50 and above [...]

For the First Time, Population Aging Accelerates as Individuals Aged 70 and Older Surpass Those in Their 20s in Numbers.

For the First Time, Population Aging Accelerates as Individuals Aged 70 and Older Surpass Those in Their 20s in Numbers.

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 [...]

Jobs in Manufacturing Sector, for Youths Decline in 2023 despite Overall Gains

Jobs in Manufacturing Sector, for Youths Decline in 2023 despite Overall Gains

SEOUL, Jan. 10 (Korea Bizwire) — South Korea’s on-year employment grew at a slower pace in 2023 as the number of newly employed fell in the manufacturing sector and among young people, data showed Wednesday. The number of employed people rose 327,000 in 2023 from a year earlier, or 1.2 percent, to come to 28.41 [...]

South Korea Continues to Lead OECD in Senior Poverty Rate

South Korea Continues to Lead OECD in Senior Poverty Rate

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 [...]

South Korean’s Healthy Life Expectancy Not Catching up Extended Average Lifespan

South Korean’s Healthy Life Expectancy Not Catching up Extended Average Lifespan

SEOUL, April 15 (Korea Bizwire) – South Koreans’ healthy life expectancy is estimated to be nine years shorter than the country’s average lifespan, data showed Saturday, urging local health authorities to beef up efforts to improve  public health. The country’s average healthy life expectancy, which is defined by the anticipated lifespan of people without any [...]