Eugene Choi

Programs Supporting the Elderly in South Korea

Started June 18, 2024

Abstract or project description

Korea’s employment rate of seniors is 50.4 percent, far higher than the OECD average of 24.7 percent. However, the disposable income of senior citizens in Korea was 68 percent, making it the lowest among OECD nations, which averaged 88 percent. Due to the lack of job opportunities that the elderly are given, the majority of seniors are left with no other solution other than jobs that require hard labor. To alleviate this ongoing issue, the government has made various efforts to make social service-type employment programs. However, these programs have brought up several new problems; the supply and demand for these types of programs are not being met sufficiently. Thus, the goal of this research is to present new policy implications for Korea's social service-type employment program through case analysis and benchmarking through other countries.