South Korea's elderly population rises to 8.537 million, expected to peak in 2028: Report

South Korea's economic engagement rate of older people is increasing as ir life expectancy improves. According to Statistics Korea's '2021 Elderly Statistics' report, number of people aged 65 and older in country reached 8.537 million this year, which is around 16.5 per cent of total population. elderly population continues to grow as a result of low birth rates and ageing.  population of South Korea is expected to peak in 2028 before declining, according to report.

population of 65-year-olds h a life expectancy of 21.3 years in 2019, and population of 75-year-olds and older h a life expectancy of 13.2 years, both up 0.5 years from previous year. average number of years left in life after reaching reference age is referred to as life expectancy. It means that a 65-year-old can expect to live to be 86.3 years old, and a 75-year-old can expect to live to be 88.2 years old.

re were 4.73 million elderly hes of households in 2020

According to data, re were 4.73 million elderly hes of households in 2020, with 35.1 per cent of m being one-person families. Meanwhile, number of divorces among those aged 65 and up has been steily increasing, as per Korea Herald. According to data, number of divorces filed by men in this age bracket totalled 9,854 last year, while number of divorces filed by women was 5,285. se percentages accounted for 11.1 per cent and 13.7 per cent of all divorces in country, respectively.

number of working senior individuals has risen in tandem with growing elderly population. employment rate for people aged 65 and up was 34.1 per cent last year, up 1.2 per cent from year before. elderly employment rate is still lower than overall employment rate for people over age of 15, but it has been rising since 2015.

Older people could make up 43.9 per cent of country's population by 2050

According to estimate, older people could make up 43.9 per cent of country's population by 2050. As expense of health and welfare services for elderly residents rises, rapidly ageing population and record low birth rates may become a financial burden on country.

(Inputs from ANI)

Image: AP