South Korea: The poverty rate and employment rate of the elderly are the highest in the world
Korean Elderly:
“The percentage of working elderly people in South Korea” ranked first among OECD member countries for the first time.
An increasing number of elderly people in South Korea are retiring and returning to work.
OECD Statistics:
Even after retirement, one in three worked.
“Last year’s employment rate for people aged 65 and over in South Korea” was 34.1%.
However, it rose 1.2 points to a record high.
Top among OECD member countries:
It exceeds “double the OECD average of 14.7%” and is the highest among the 38 member countries.
It overtook “31% of Iceland, which was the number one in the past”.
Employment rate of elderly people in South Korea:
Participation rate in economic activities for people aged 65 and over (ratio of population to population)
South Korea ranked first among OECD member countries with 35.3%.
This is a completely unpleasant record.
Korean elderly are especially healthy,
Strong motivation for work,
The employment rate has not increased.
Relative poverty rate in 2018:
The relative poverty rate of the Korean population aged 65 and over reaches 43.4%.
It ranks first in OECD, which is nearly three times higher than the average of 15.7% in member countries.
Poor Korean old-age pension:
There is a shortage of retirement funds such as pensions.
This is because Korea’s safety net is poor.
Even if you retire, you cannot maintain your livelihood without work.
This reality is raising the employment rate of the elderly in South Korea.
Comparison with world standards:
The employment rate for people aged 65 and over has stabilized downwards or remains at the same level.
Comparing 2010 and last year,
Norway from 18.1% to 10.3%,
Sweden from 13.3% to 10.7%
Finland also went from 7.8% to 6.3%
Luxembourg also went from 3.4% to 2.8%
The global employment rate for people aged 65 and over is declining.
On the other hand, the employment rate of people aged 65 and over in South Korea is
It increased by 5.1 points from 29% in 2010 to 34.1% last year.
Joongang Ilbo
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