Why South Korea Has So Many Elderly Still in the Workforce

Submitted by pmassetti on

TIME (19.02.2024) Some 24.5% of South Koreans aged 70 and above were still working as of January, local media reported Monday, as officials increasingly look to keep more elderly in the workforce to address a demographic crisis. Elderly employment figures have seen a steady increase since the country’s statistics authority started to collect the data in 2005.  South Korea is projected to become the world’s most aged by 2044 and the number of people in their 70s exceeded those in their 20s for the first time ever last year. Authorities are scrambling to address the country’s aging population, including efforts to encourage employment among youth as well as the elderly and boost low fertility rates.

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