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, 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. 9 (Korea Bizwire) – Amid stagnant growth of local household consumption, a recent study indicated that the elderly will play an essential role in leading Korea’s future consumption. According to the report – Consumption Status of the Elderly and its Implications – compiled by the Bank of Korea’s research bureau, the contribution rate [...]
SEOUL, Nov. 7 (Korea Bizwire) – A recent study from Statistics Korea revealed that the number of temporary employees aged 60 and above has more than doubled over the past decade, calling for government measures to provide aged workers with stable jobs to prevent elderly poverty. According to the study, there were 1,468,000 employees aged [...]
SEOUL, Oct. 18 (Korea Bizwire) – One out of 10 senior citizens have had thoughts about attempting suicide in the past year, a survey showed Tuesday. According to the survey conducted by the Korea Institute for Health and Social Affairs (KIHASA) on 853 people aged over 65, 10.3 percent said they have felt an impulse [...]
SEJONG, Sept. 29 (Korea Bizwire) – The ratio of senior citizens aged 65 and over in South Korea rose to an all-time high in 2015, underscoring the trend that the country’s population is aging at a fast pace, government data showed Thursday. According to the data by Statistics Korea, 6.57 million, or 13.2 percent of [...]
SEOUL, June 21 (Korea Bizwire) – Nine in 10 South Korean seniors are expected to live on the state pension in 2060, when the country’s national pension fund is estimated to dry up, a report said Tuesday. According to the report by the National Pension Research Institute, 91.3 percent of 17.62 million South Koreans aged [...]
SEOUL, May 26 (Korea Bizwire) – More people in the older generations are connecting to the Internet through their smartphones and other digital gadgets, although their use of applications was fewer in number and diversity than younger age groups, a survey said Thursday. Nielsen KoreanClick, basing its findings on mobile behavioral data from October 2014 [...]
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 [...]
SUWON, May 9 (Korea Bizwire) – In 2012, Gyeonggi Province started a healthcare campaign aimed at senior citizens living alone, which turned out to be successful in reducing medical expenses and visits, and also depression. According to Gyeonggi Province, the average monthly medical expense for its 9,868 elderly citizens living alone dropped from 63,385 won [...]