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How South Korea is tackling its super-aging problem – and what other aging nations can learn from its experience
Officials are weighing a higher retirement age as the pension fund nears depletion and long-term care demand rises.
In December 2024, South Korea reached super-aged status as residents 65 and older surpassed 20% of the population, completing a demographic transition in roughly 24 years.
Economic insecurity persists among older adults; 39.7% of people 66 and older live on less than half the national median household disposable income, the highest rate among OECD nations.
A 2025 pension reform will raise contribution rates from 9% to 13% by 2033, while lawmakers debate gradually increasing the statutory retirement age from 60 to 65.
Long-Term care insurance, introduced in 2008, provides home and residential support for those with physical or cognitive needs, though demand for services is rising rapidly.
South Korea's experience suggests aging societies benefit most when policymakers coordinate pension and employment reforms early, before fiscal pressures and care needs become severe.