[Retirement Age Extension, Time to Choose] Number of Regular Employees Aged 70 and Over Quadruples in 10 Years

Changing Elderly Employment
Shifting Toward Stability and Security
Retirement Age Extension Requires a Long-Term Approach

The issue of employment after the statutory retirement age does not simply end at age 60. As life expectancy increases and the aging trend continues, there has been a clear rise in the number of employed workers aged 70 and above. Jobs for older adults, which were once mainly temporary or daily positions for subsistence, are gradually shifting towards regular and professional roles. This indicates a transition from simply expanding jobs for the elderly to a structure that allows for the stable utilization of older workers. For this reason, there are calls for institutional efforts to address the needs of older people who wish to work, rather than merely extending the retirement age.

According to an analysis by Asia Economy on May 14, 2025, of microdata from Statistics Korea's Economically Active Population Survey, the number of regular employees (non-agricultural, monthly average) aged 70 and over increased slightly from 65,000 in 2014 to 74,000 in 2015, but then surged to 275,000 in 2024. This is more than a fourfold increase in ten years. The monthly average number of regular employees aged 70 and over is expected to reach 291,000 in 2025, an increase from last year. In particular, this year's monthly average employment figure takes seasonal factors into account, so the annual average may be even higher. Regular employment refers to positions with employment contracts of at least one year, including permanent positions. This suggests that older workers aged 70 and over are steadily participating in the workforce. During the same period, the number of temporary or daily workers, whose contracts are less than one year, also increased from 340,000 to 796,000, but the growth rate was lower than that of regular employment.

The shift in elderly employment from short-term jobs to positions with a certain level of stability and security is also evident in changes by occupation. According to the 8th major occupational classification, the number of regular employees aged 70 and over working in plant and machinery operation was less than 10,000 in 2014, but increased to 20,000 last year. According to Statistics Korea, workers in plant and machinery operation include not only those who operate industrial machines and equipment, but also those with skills in computer-controlled machinery. These are skilled jobs in manufacturing. The number of such positions increased from several thousand to 20,000 over ten years. The number of professionals aged 70 and over in regular employment also jumped eightfold, from 5,000 to 40,000 over the same period.

This trend supports the view that discussions on extending the retirement age should be addressed with a long-term perspective, as an increase in life expectancy leads to a growing number of older people who wish to remain employed.

Experts view the expansion of regular employment among older adults as a possible transition toward an 'age-friendly labor market.' At the same time, they warn that if the legal and institutional foundations to support this are lacking and the burden is shifted solely to the private sector, it could undermine the overall flexibility and competitiveness of the labor market. As discussions about extending the retirement age and continued employment are spreading, they stress the need for a phased transition strategy at the government level, along with differentiated approaches by industry.

Now that quantitative expansion of employment for older adults has been achieved, it is becoming increasingly important to design policies that also consider the quality of jobs and the sustainability of businesses.

Park Yongmin, head of the Economic Research Team at the Federation of Korean Industries, stated, "Major conglomerates are increasingly adopting 'post-retirement reemployment' systems, particularly for skilled workers, and small and medium-sized enterprises are also addressing workforce shortages by hiring older workers. As a result, autonomous employment models for the elderly are being formed by companies with demand by industry and job type. In order to facilitate the employment of older workers throughout the economy without adding undue burden, it is necessary to proactively establish institutional foundations such as wage system reforms, and to expand the autonomy and range of choices for companies in making employment decisions related to older workers."