[Insight & Opinion] How Baby Boomers and the 1960s Generation Will Transform the Future of an Aging Society

Second Baby Boomers Near Retirement After the First
Democratization, Venture Experience, and IT Adaptability
A New Landscape for the Aging Era Expected

According to data released by the Ministry of the Interior and Safety on the 11th, the population of registered residents aged 65 and over in South Korea has surpassed 10 million. This means that one in every five people is elderly. Along with the quantitative increase in the elderly population, what we need to pay attention to is the qualitative change. This is because the 'baby boom' generation, which can be considered the core 'age group' of Korean society, is entering the elderly age bracket.

The Korean baby boom generation consists of those born between 1955 and 1963, right after the Korean War, currently estimated to be about 7 million people. Adding the second baby boom generation, born between 1964 and 1974, which numbers about 9.5 million, the total accounts for nearly one-third of the entire population. Some members of the first baby boom generation have already entered old age, and the second baby boom generation is also on the verge of aging.

The aging of the baby boomers is expected to bring significant changes in almost all areas of South Korea’s politics, economy, society, and culture. In particular, the aging of those born in the 1960s, once called the '386 generation,' is expected to present a very different picture from the elderly we have known so far.

German sociologist Karl Mannheim argued that people born around the same time in the same historical and cultural context share similar consciousness structures and behavioral patterns. This is the concept of a 'social generation,' which holds that the worldview formed by the culture and events experienced during adolescence and youth continues into old age. This is similar to the Korean proverb, "A habit formed at three lasts until eighty."

So, what kind of culture did those born in the 1960s grow up in, and what events did they experience? Those born in the 1960s spent their adolescence under a strict military-like control atmosphere and witnessed the contradictions of rapid economic growth and experienced an authoritarian government during their youth. Due to these historical experiences, the 1960s generation shares more progressive social consciousness and 'generational values' such as participation and reform compared to previous generations. Above all, the 1960s generation has a higher proportion of highly educated individuals and greater acceptance of technology than earlier generations.

How might the aging of the 1960s generation, with these generational values and characteristics, change the landscape of future aging societies? First, the 1960s generation can form a strong pressure group regarding their interests, such as pensions and welfare, due to their expertise in various fields and numerical superiority. Based on their experience with democratization, ventures, and high adaptability and knowledge of information technology, the 1960s generation will actively pursue the rights and interests they need even as elderly individuals. In other words, this generation hopes to be seen not as 'old people (老人)' but as 'wise people (賢人),' and they will seek continuous social participation.

The 1960s generation, influenced by nuclear familyization, will reject the traditional grandparent role of caring for grandchildren and will prefer a couple-centered lifestyle in old age. They are also likely to seek personal private space without relying on economic support from their children. Furthermore, in addition to major elderly concerns such as medical care, health, and housing, they are expected to show active consumption tendencies related to retraining and leisure activities after retirement.

Finally, a change in the political tendencies of the elderly, who have been associated with a 'conservative' image, is also anticipated. Until now, the elderly have generally been seen as having strong conservative leanings, and election results have reflected this. However, the aging of the baby boom generation, which includes those born in the 1960s, could bring a seismic shift in the political landscape of the elderly that we have known.

Seoyongseok, Professor at KAIST Graduate School of Culture Technology and Future Strategy