Aging of South Korea

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In South Korea, aging refers to an increase in the proportion of senior citizens to the total population. The term "senior citizens" include those aged 65 or older. According to Article 3 no.1 of the Framework Act on Low Birthrate of an Aging Society, the term "aging population" refers to the increasing proportion of elderly people in the entire population.[1]

South Korea population pyramid 1960-2020

Aging is often caused by the dramatic improvement of living standards derived from the development of science and medicine, increasing the life expectancy of the average individual; however, aging is also greatly affected by the decrease in birth rates. In 2045, South Korea will become the world's most aged population, with a great portion of the population becoming aged 65 or older. With its entrance as an aged society in 2017, South Korea will see its aging population reach the fastest pace in the world, with the proportion of people aged 65 or older soaring to an unprecedented 46.5 percent in 2067. By 2067, the working age population is expected to decrease so that it is less than the elderly population.[2]

According to the World and Korea Population Forecast released by the National Statistical Office, South Korea's population aged 65 or older will reach 37.0 percent in 2045, surpassing Japan's 36.7 percent, and thereby becoming the world's most aged population (The report is based on a comparative analysis of the UN's World Population Outlook for 201 countries and the National Statistical Office's special estimate of the future population between 1967 and 2017.) South Korea's portion of the elderly population is projected to grow at the fastest pace in the world from 14.9 percent in 2019 to 46.5 percent in 2067.[3]

In 2020, South Korea recorded more deaths than births, resulting in a population decline for the first time on record.[4]

Causes[]

The main cause of South Korea's aging is low fertility. Decreased fertility rates tend to cause lower marriage rates, more delayed marriages, and increased aging. Existing research suggests that economic factors such as income, labor market conditions, as well as socio-cultural factors including changes in the values of education and gender roles, and family and health policy are the main causes of lower fertility rates.[5]

Fertility[]

See also: Low birth rate in South Korea

Unlike in countries in Europe where fertility rates naturally fell below the level of population replacement due to industrialization and socio-cultural factors, Korea's birthrates fell sharply due to birth control policies. In the early stages of industrialization, the decline in fertility resulted in increased per capita income, by slowing rapid population growth and achieving rapid economic growth. As a result, the decline in population is likely to be greater than that of other developed economies during the period of natural decline. Korea's birth control policy began in the 1960s and ended in the mid-1990s when birth rates fell significantly below the level of population replacement. As a result, Korea's fertility rate has declined by about half from the end of the 1970s (2.90 births/woman) to 1.56 births/woman at the end of the 1980s. In the 2000s, when low birth rates started to become a problem, the government tried to alter policy to increase it, but the birth rate still declined at a more rapid rate than any other country.[5]

On the other hand, the Korean population tends to have more males than females (except for the Korean War during the 1950s, when many male soldiers died), this is according to the traditional preference for male babies in Korea. Other developed nations with a more balanced sex ratio have had less population growth. This suggests that if the South Korean preference for male babies is weakened, balancing the gender ratio, the negative effect on the birth rate may be removed.[5]

Longevity[]

In the first half of the 1950s, life expectancy was just less than 42 years on average (37 for men, 47 for women). Today, the numbers are very different. South Korea now has one of the highest life expectancies in the world – ranked 15th in the world. The average baby born in South Korea can expect to live to the age of 82 years (79 for men, and 85 for women). In contrast, the global average is 72 years (70 for men, 74 for women).

The UN projects life expectancy will continue to improve; by 2100, the average baby born in South Korea will live to the age of 92 (89 for men, and 95 for women). A separate study published in the Lancet showed that women in South Korea are projected to be the first in the world to have an average life expectancy above 90 – with the researchers predicting a 57% chance this will happen by 2030.[6]

Effects[]

The biggest consequence of South Korea's aging is that the quality of life for the elderly decreases. The main reason for this is that the elderly lack the income to live decent lives. South Korea's poverty rate for senior citizens is high among advanced countries, but the country has failed to properly provide for the aging population. The government has sought to support senior citizens by providing temporary and direct support to those in poverty. There is a limit to how old people can live in a way that contributes to society. It can be said that poverty caused by the exclusion of the elderly from the labor market is difficult to solve, and can only be solved through social respect and support for the elderly.[7]

Productive age population[]

While the number of elderly people is increasing, the number of elderly supported by every 100 working-age people is expected to soar from 37.6 in 2019 to 120.2 in 2067, among the highest levels in the world.[2]

Economic[]

People have different economic needs and different degrees of contribution to the economy at each stage of their lives. In general, people do not earn income in their childhood, but they do have access to learning activities under the care of their parents. People tend to generate income until they retire; in retirement they depend on money they saved in their working years[7]

Government policies[]

South Korea's measures to combat aging and its effects include strengthening income security for retirees, finding ways to increase productivity to compensate for the reduction of the working-age population, and taking the leap to an aging-friendly economy.[8]

Strengthening income security system stable retirement[]

As the average life expectancy grows older, the problem of poverty may intensify. Accordingly, the 3rd Basic Plan intends to strengthen the public and private retirement income security system. To relieve blind spots in public pensions, the government will expand women's pension entitlements and increase their participation in national pensions such as one-time and part-time special employment.

The plan is to establish a one-person national pension system. The plan is to increase membership by easing the requirements for housing pension and farmland pension. We will improve the financial system in preparation for long-term risks due to the safety assets of the elderly and expand the retirement preparation services so that they can prepare for their own retirement.[8]

Expanding conditions that can improve the quality of life of the elderly[]

To improve the quality of life of the elderly, we will expand the conditions to improve the quality of life for the elderly. This includes efforts to create a safe living environment. Specifically, the process includes vitalizing the health mileage system, strengthening chronic disease management, expanding comprehensive nursing care and nursing services, strengthening long-term care insurance system quality management, and reinforcing hospice palliative care services. We will support the health of the elderly by supporting them. The company plans to support active retirement by expanding social participation opportunities such as developing leisure culture tailored to the elderly and expanding participation in volunteer support. We will create a safe living environment by expanding rental housing for the elderly, mandatory safety training for senior drivers, and reducing traffic accidents for elderly pedestrians through the establishment of elderly protection zones.[8]

Manpower utilization plan compared to the reduction of productive population[]

As the decrease in the number of people available for production began in earnest in 2016, we are devising measures to utilize women, middle-aged and foreign workers. Women's employment will be activated by diversifying the form of work such as part-time work and strengthening the reemployment support system for career-breaking women. We will strengthen the working base of middle-aged and older workers by spreading the wage peak system to establish the 60-year-old retirement age system and mandatory life support service. In order to expand the recruitment of overseas talented individuals, especially in areas where there is a shortage of domestic specialists, we will provide opportunities for long-term employment and settlement, and establish a mid- to long-term immigration policy to utilize foreign workers.[8]

Leap to an Age-Friendly Economy[]

As the elderly population grows, active efforts for the aged-friendly industry are needed. Therefore, the 3rd basic plan aims to foster the industrial sectors such as medical care, tourism, and food related to the elderly, and to support the development of universal design and user-oriented elderly-friendly products. Meanwhile, in order to cope with the reduction of school age population due to low birth rate, we will promote university structural reform, teacher training, and reschedule supply and demand plan. Let's race. In order to cope with the declining population in rural areas due to aging and urbanization, the government also proposes measures to revitalize return-to-home villages. Finally, it plans to reform the national pension system and stabilize the income base of health insurance to manage the financial risk of social insurance. The government will also plan to reform special occupational pension plans. For the efficient use of national finance, the government proposes measures to reorganize quasi-duplicate financial projects, expand revenue bases, and manage mid- to long-term financial risks.[8]

See also[]

References[]

  1. ^ "고령화(高齡化) - 한국민족문화대백과사전". encykorea.aks.ac.kr. Retrieved 2019-11-11.
  2. ^ a b 김, 수영. "장래인구추계: 2015~2065년" [Future Population Forecast: 2015-2065]. Kostat. Retrieved 2019-11-11.
  3. ^ 이율 (2019-09-02). "한국, 2045년에 노인비중 세계 최고…"가장 빠르게 고령화"". 연합뉴스 (in Korean). Retrieved 2019-11-11.
  4. ^ Gladstone, Rick. "As Birthrate Falls, South Korea's Population Declines, Posing Threat to Economy". New York Times. Retrieved 2021-01-05.
  5. ^ a b c 박, 경훈 (Autumn 2017). "고령화의 원인과 특징" [Causes and Characteristics of Aging]. 인구구조 고령화의 영향과 정책과제.
  6. ^ "South Korea's population paradox - BBC". bbc.com/. 2019-10-15. Retrieved 2021-05-17.
  7. ^ a b Ahn, Byung Kwon (2017). Effects of Population Aging on the Economy. South Korea: Korea Bank.
  8. ^ a b c d e 이, 삼식 (2016). "저출산·고령화 대책의 현황과 정책과제" [Current Status and Policy Issues of Low Birthrate and Aging in Korea]. 보건복지포럼. 2016–01: 51–65.
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