The issue of South Korea's aging population is not a new one,in fact, the country is transitioning into a super-aged society,faster than any other OECD member.
By 2050, for every 100 people in the working age bracket, there will be 73 aged over 65, 20 percent higher than the OECD average.
This means only 36 percent of the country’s total population will be responsible for production and services
To prevent such crisis, the expert who conducted the study, says the older generation must actively engage in economic activities.
“Because the country’s birth rate continues to drop,existing measures such as increasing alternative labor force with women and youth are neither enough nor effective. We have to make the best use out of the existing population.”
He added that it is necessary to get rid of mandatory retirement solely based on a certain age,and instead reconsider the country's social systems such as categorizing those aged over 65 as elderly.
He also stressed the need to further improve age-friendly labor policies and systems, such as providing lifelong education and allowing retirement based solely on workers' abilities.
Park Se-young, Arirang News.