Despite the celebration of Senior Citizens Day on October 2, indicators of the quality of life for the elderly in South Korea remain among the lowest in the Organization for Economic Cooperation and Development (OECD). Approximately 40% of seniors live below the poverty line, and the employment rate for those aged 65 and older is the highest among member countries, highlighting a troubling reality where many cannot afford to retire.
According to the National Pension Research Institute, South Korea's income poverty rate for the elderly was 39.7% in 2025, the highest among OECD nations. The OECD average stands at 14.8%, meaning South Korea's rate is more than double that of its peers. The poverty rate increases with age and is notably higher among women. For those aged 66 to 75, the poverty rate is 29.8%, while it rises to 54.0% for those over 75. The poverty rate for elderly women is 45.0%, 12.4 percentage points higher than that of men at 32.6%.
South Korea also has the highest employment rate for seniors. A report from the National Pension Research Institute indicates that as of 2023, the employment rate for those aged 65 and older is 37.3%, which is 2.7 times the OECD average of 13.6%. Many seniors are compelled to seek work again as their pension benefits are insufficient to cover living expenses.
The risks faced by the elderly continue to be significant. Notably, the suicide rate among seniors poses a growing threat to their safety, increasing at a pace that matches the country's aging demographic. According to data from the Korea Life Respect Foundation, based on World Health Organization statistics, South Korea has consistently recorded the highest suicide rate among the elderly in OECD countries from 2014 to 2021.
Recent statistics are similarly alarming. The National Data Agency reported that from 2019 to 2023, 18,044 seniors aged 65 and older died by suicide, averaging about 3,000 elderly suicides each year. Although the suicide rate among South Korean seniors has decreased recently, the country still ranks among the highest in the OECD.
Park Hyung-bae, head of the Safety Prevention Policy Office at the Ministry of the Interior and Safety, stated, “It is crucial to carefully examine risk factors in daily life to create a safe environment where seniors can engage in activities with peace of mind. We will continue to work closely with relevant agencies to expand safety culture initiatives that seniors can feel in their daily lives.”
* This article has been translated by AI.
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