[Baking Typewriter] Long-Term Care Insurance, Dementia Protection Trusts, and Funeral Businesses... Japan's Solutions to Super-Aging Society

Threefold Challenge of Health, Money, and Loneliness Considered Over Decades
Focus Shifts from 'Cost' to 'Preserving Human Dignity'
Strengthening Social Responsibility Over Family Sacrifice
Measures in Place to Prevent Bankruptcy in Old Age
Diverse Japanese Examples Explored
Includes Ideas for 'Korean-Style Industry'

The 2022 Japanese film "Plan 75," released locally, depicts a near-future Japan facing the risk of social and economic collapse due to a rapidly aging population. The government's solution in the film is not just bizarre but chilling. The policy, also called "Plan 75," proposes that the state actively supports elderly citizens in choosing euthanasia once they turn 75. The government promotes the positive effects of seniors making this decision through various campaigns. To ensure that those who have chosen euthanasia do not change their minds, a call center checks in daily to confirm their intentions. Some viewers find the film particularly resonant because they believe, "If it were Japan, they might really do this." This stems from the uniquely Japanese culture that values not inconveniencing others and sometimes demands individual sacrifice for the collective, leading to speculation-or prejudice-that such an extreme policy could emerge if these values were taken to the extreme.

In reality, Japan's aging population problem is deepening by the day. The so-called "Dankai" generation, referring to those born between 1947 and 1949 during the baby boom, all turned 75 or older last year. Moreover, 29% of Japan's 120 million population is now aged 65 or older. However, there is a twist: the real-life "Plan 75" is heading in the exact opposite direction from the film. To prevent a dystopia where the lives of seniors are reduced to mere calculations of cost and efficiency, Japan has been preparing for decades.

Namiseon, a Japan analyst at Daishin Securities' Long-Term Strategy Research Department, explores these efforts through various examples and statistics in her book "Anxiety About Old Age: Finding Answers in Japan." The title "Anxiety About Old Age" refers to the anxieties of both individuals and the nation. The book dissects the three main pillars of anxiety in old age: health, money, and loneliness. Among these, Japan's most significant shift has been its approach to health concerns. Japan has redefined senior health not as "how long one can live," but as "the right to live with dignity." The ten-year gap between life expectancy and healthy life expectancy, known as the "period of care," should no longer be a burden borne solely by individuals and families. This concern led to the introduction of long-term care insurance in 2000, shifting caregiving from a family duty to a societal responsibility.

To address financial anxieties in old age, Japan has acknowledged the limitations of its pension system and established Silver Human Resource Centers and senior-friendly jobs to make seniors active participants in the workforce. At the same time, trust services and asset management platforms have been developed to protect assets from dementia and fraud. The essence of the senior economy-"not losing rather than earning"-has been institutionalized. Efforts are also underway to move seniors away from a savings-only investment approach through financial literacy programs. In the latter part of the book, the "shukatsu" (end-of-life planning) business is discussed, which treats death as a part of life rather than a taboo, industrializing everything from funerals and wills to organizing personal relationships. This is a practical business solution to the challenge of "not leaving a burden on those left behind."

Of course, Japan's case provides only hints in the search for answers and is not a "model answer" in itself. Unique aspects of Korean society-such as apartment culture, urban concentration, and perspectives on life-mean that simply transplanting the Japanese model could lead to entirely different side effects. The author also introduces Korean-style senior business ideas at the end of the book, including "group purchases of healthy lunchboxes" and "senior-customized home remodeling," among other noteworthy concepts.

Anxiety About Old Age: Finding Answers in Japan | Written by Namiseon | Maeil Business Newspaper | 368 pages | 21,000 won