South Korean government departments said on the 10th that the country will discuss the minimum age standards for the elderly in the near future to deal with issues related to the aging of the population. According to media reports, the South Korean government intends to raise the minimum age threshold for the elderly to 70 years old.
In addition, the Ministry of Health and Welfare also plans to complete the reform of the pension system in response to the aging population. Ministry officials said the current pension system is "unsustainable" and if the system is maintained, South Korea's pensions are expected to run into a deficit in 2041 and be depleted around 2050.
In recent years, the aging of Korean society has accelerated. As of December last year, the number of people over 65 years old in the country reached 10.24 million, accounting for more than 20% of the total population, thus entering a "super-aged society."
In October last year, the Korean Association for the Elderly proposed gradually raising the threshold for senior citizens to 75 years old.