[New Release] The Boomer Economics of Modern Adults

A socioeconomist who interprets changes in Korean society through demographic and generational analysis says that in the era of population decline, the new law of wealth must be found in the 17 million-strong consumer power of the Baby Boomer generation.

The author emphasizes, "The 'yojeum-eoreun' (modern adults), the first group in human history to age while having everything, strongly reject terms like senior or silver," and adds, "The market for Korea's yojeum-eoreun should be approached with the concept of 'extending active service'." Entering their 50s and 70s, the yojeum-eoreun remain active and smart, so creativity and innovative strategies are needed to create and expand a market for yojeum-eoreun rather than a senior market.

It is easy to understand by comparing BTS and Lim Young-woong. Lim Young-woong is the overwhelming number one singer in both reputation and consumer power. The teenage population who like BTS is only half the size of the 50s age group who like Lim Young-woong, and the purchasing power of teenagers does not even come close to that of people in their 50s. The author asserts, "BTS will never be able to surpass Lim Young-woong going forward."

This book profiles the yojeum-eoreun through various case studies and applies Maslow's five-stage hierarchy of needs theory to derive four business keywords for each stage, revealing a total of 20 keywords. It also includes abundant and meticulous examples from Europe, which has already entered a super-aged society ahead of us, and Japan, which serves as a cautionary example for us. By examining many companies' trial and error, successes, and failures targeting the senior market, readers can gain hints for future business.

Jeon Young-su, a professor in the Department of Sustainable Economics at Hanyang University Graduate School of International Studies, currently serves as an advisor and expert committee member on population-related matters for the Ministry of Economy and Finance, Ministry of Land, Infrastructure and Transport, Ministry of Employment and Labor, Seoul Metropolitan Government, and Board of Audit and Inspection. He has served as a specialist on the Presidential Committee on Jobs and as a visiting professor at Keio University (Faculty of Economics) in Japan. His publications include Population Extinction and Localism, How Local Cities at Risk of Extinction Became Luxury Cities? (co-authored), The Great Transformation of Wealth in Population Decline, Korea's Population Trends, The Future of Korea's Population and Consumption, Korea is Disappearing, The IKEA Generation: Their Counterattack Has Begun, and The Power to Read the Consumption Psychology of the FIFA Generation, among others.

Yojeum-eoreun's Boomer Economics | Written by Jeon Young-su | 268 pages | 25,000 KRW | Ra-ui Noon