[Asia Economy Reporter Kwangho Lee] This year, the proportion of elderly people in South Korea's population accounted for about 16% of the total population. By 2025, the elderly population is expected to reach 20.3%, entering a super-aged society. By 2030, all regions except Sejong City are projected to become super-aged societies.
According to the "2019 Elderly Statistics" released by Statistics Korea on the 28th, the elderly population aged 65 and over this year was 8,125,000, accounting for 15.7% of the total population.
The proportion of the elderly population is expected to continue increasing, reaching 20.3% of the total population (15,110,000 people) in 2025, entering a super-aged society. It is estimated to increase to 43.9% by 2060.
The "old-age dependency ratio," which refers to the number of people aged 65 and over per 100 people of working age (15?64 years), is 21.7 this year. Due to low birth rates and aging, the old-age dependency ratio is expected to continue rising, reaching 91.4 by 2060.
This year, elderly households with a household head aged 65 or older numbered 4,642,000 households, accounting for 22.8% of the total, but by 2047, it is expected that 49.6% will be elderly households.
Last year, the net assets of elderly households with a household head aged 60 or older increased by 4.46 million KRW from the previous year to 368.04 million KRW. Compared to other age groups, the proportion of real estate in their assets was the highest at 77.2%.
Last year, 48.6% of elderly people aged 65 and over were preparing for or had prepared for their old age, an increase of 9.6 percentage points compared to 10 years ago. The proportion was higher among men (60.9%) than women (39.3%).
The main methods of old-age preparation were the National Pension (31.1%) as the highest, followed by deposits, savings, and savings-type insurance (27.9%), real estate management (14.6%), other public pensions (13.0%), private pensions (8.1%), and retirement benefits (4.7%).
Last year, the employment rate of elderly people aged 65 and over was 32.9%, up 1.6 percentage points from 31.3% the previous year. The unemployment rate recorded 3.2%, up 0.3 percentage points from 2.9% the previous year.
The public pension receipt rate among elderly people aged 65 and over has increased every year, with 50.9% of all elderly people receiving public pensions last year.
Last year, 76.9% of elderly households aged 65 and over were found to be living in their own homes.
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