South Korea becomes super-aged society faster than expected

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The story "South Korea becomes super-aged society faster than expected" was covered 19 hours ago by Korea Economic Daily, a news publisher based in South Korea.

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South Korea becomes super-aged society faster than expected - Korea Economic Daily

Quick Summary:

The number of people aged 65 and older more than doubled in just 16 years, rising from 4.95 million in 2008 to over 10 million this year.“The government must come up with various measures, including the establishment of the population strategy planning department, which is currently under consideration,” said Lee Sang-rim, senior researcher at the Population and Aging Society Research Center at Seoul National University.

Statistics Korea, the country’s official statistics agency, said earlier that the country would become a super-aged society in 2025.“There must be a fundamental, systematic change to our population policy, including the establishment of a government department dedicated to this work,” said Kim Min-jae, a senior ministry official, in a statement.

AGING FASTER THAN EXPECTEDKorea, Asia’s fourth-largest economy, entered an aging society in 2000 and became an aged society in 2017.Of the total 10.24 million Koreans aged 65 and above, 5.69 million were women, accounting for 22.2% of the group, while 4.54 million were men, or 17.8%, according to the ministry.