How South Korea Is Tackling Its Super‑Aging Problem – And What Other Aging Nations Can Learn From Its Experience

In December 2024, the share of South Koreans aged 65 and over first exceeded 20%, marking the country as a "super-aged society." This designation isn't inherently negative; rather, it reflects demographic progress and increased longevity due to improved living conditions. However, the rapid aging process presents significant challenges for South Korea's social safety net, healthcare system, and workforce.

South Korea transitioned from an aging society (7%-13% of the population over 64) to a super-aged society in just 24 years, faster than Japan (35 years) and projected to become the oldest nation by 2060, with 41% of its population aged 65 or older. The country's experience offers valuable insights into the impending demographic shifts faced by many societies worldwide.

South Korea's family structure has evolved significantly. The largest age group in the 1990s was 15-34, but now more than 30% of the population is over 45, with retirees aged 60 and above. Concurrently, the share of people aged 30 and younger has decreased. These demographic trends are indicative of broader changes in fertility, marriage, and family arrangements, driven by increased individual autonomy and a global demographic transition towards low fertility, later marriage, and diverse family structures.

Economic implications loom large for South Korea's aging population. The National Pension Service, financing most retirement benefits, is projected to run out by 2054. Older adults with inconsistent pension contribution histories and modest benefits are increasingly vulnerable to poverty. South Korea ranks highest among OECD countries for old-age income poverty, with 39.7% of people aged 66 and older living on less than half the national median household income.

In response to these challenges, South Korea is implementing various reforms. A 2025 pension reform aims to gradually raise the national pension contribution rate from 9% to 13% by 2033 and set the target replacement rate at 43%. This will help bridge the gap between retirement eligibility and pension benefits, albeit with potential repercussions for younger workers' upward mobility.

Beyond financial constraints, South Korea is addressing healthcare and mental health needs for its elderly population. Introduced in 2008, long-term care insurance supports home care, nursing, rehabilitation, daycare, assistive devices, and residential care for those with physical or cognitive impairments. Eligibility is determined through assessments for daily activity difficulties or specific age-related conditions like dementia or cerebrovascular disease.