How South Korea is tackling its super-aging problem – and what other aging nations can learn from its experience
Healthcare and assistance for the elderly are particular challenges for South Korea's rapidly aging society. Plan Shooting 2/Imazins via Getty Images In December 2024, the share of South Koreans ages 65 and older surpassed 20% for the first time, making it what demographers like us call a “ super-aged society .” By August 2026 that <a href="
In December 2024, South Korea crossed a demographic threshold: over 20% of its population was aged 65 or older, officially making it a super-aged society. By August 2026, this share rose to 22.1%. A super-aged society is defined as a country where 20% or more of the population is 65+. This shift reflects progress, as people live longer due to improved health and safety. However, the speed of this change is concerning. South Korea transitioned from an aging society (7-13% aged 65+) to a super-aged society in just 24 years, faster than Japan (35 years) or the U.S. By 2060, South Korea’s elderly population is projected to reach 41%, the highest globally. This rapid aging poses challenges for pensions, healthcare, and the workforce, leaving little time to adapt.
South Korea’s aging is tied to broader changes in family life and fertility. In the 1990s, the largest age groups were 15-34-year-olds, but today, many in this cohort are nearing retirement. Meanwhile, the share of people aged 30 and younger is shrinking. The country now has one of the world’s lowest fertility rates, driven by later marriages, parenthood, and more diverse family structures. This demographic transition—a shift toward fewer births and older populations—is common in developed nations but is happening unusually fast in South Korea. The result is fewer young workers supporting a growing elderly population, straining social systems like pensions and healthcare.
South Korea’s retirement system relies on two main pillars: the National Pension Service (NPS), a worker-financed fund, and the Basic Pension, a tax-funded benefit for low-income seniors. However, the NPS is projected to run out of funds by 2054 unless reforms are made. Many elderly Koreans face financial insecurity, with 39.7% of those aged 66+ living on less than half the national median income—the highest rate among OECD countries (OECD average: 14.8%). Older adults often have modest pensions and limited savings, despite owning assets like real estate. To cope, some use reverse mortgages, converting home equity into cash. Despite policy reforms, economic insecurity persists among seniors.
With pensions insufficient for many, South Korea has one of the highest employment rates among older adults globally. The average retirement age is 72, higher than in any other OECD country. Men typically leave their longest-held job at 51 but continue working in lower-paying, less secure second careers. The government is debating raising the statutory retirement age from 60 to 65 to ease financial pressures and align retirement with pension eligibility. However, this could limit job opportunities for younger workers if older employees stay in senior roles longer. A 2025 pension reform will gradually increase the NPS contribution rate from 9% to 13% by 2033 and set the target replacement rate—the pension’s share of pre-retirement income—at 43%.
South Korea introduced long-term care insurance in 2008 to support elderly citizens with physical or cognitive needs, such as dementia or mobility issues. The program covers home care, nursing, rehabilitation, and residential services, funded by National Health Insurance, government subsidies, and user copays. Eligibility is based on care needs, not income, though lower-income beneficiaries pay reduced or no copays. Demand is surging: in 2024, 10.8% of people aged 65+ and 31.9% of those 80+ were certified for benefits. However, challenges remain, including a care workforce dominated by older women in insecure jobs, limited rural services, and families providing substantial unpaid care. Many elderly Koreans also fear becoming a burden on their families.
South Korea faces growing mental health and social challenges among its elderly. The country has the highest suicide rate in the OECD, and seniors aged 65+ have higher suicide rates than other age groups. Social isolation is also a concern: 6.6% of adults aged 65+ reported having no one to turn to for help in 2023, rising to 12.9% among those 85+. Additionally, 4.8% reported abuse (physical, sexual, or emotional) in the past year, while 26.3% faced age discrimination in daily life. These issues are worse for those living alone, in poor health, or in rural areas. While community programs and visits help, they cannot replace financial security, healthcare, or strong social ties.
South Korea’s rapid aging offers lessons for other countries facing similar challenges. One key takeaway is the need to build *long-term care capacity* before systems become overwhelmed. Policymakers should also coordinate pension reforms with employment policies, rather than addressing them separately. Programs must reach rural and disadvantaged communities to avoid inequities. The most critical lesson is timing: acting early—before fiscal pressure, labor shortages, or unmet care needs become severe—provides more options. South Korea has created important institutions, such as long-term care insurance, but its experience shows the costs of delaying policy changes until demographic pressures are acute.
