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Aging is often caused by the dramatic improvement of living standards derived from the development of science and medicine, increasing the life expectancy of the average individual; however, a decrease in birth rates can be a major contributor. South Korea's birth rate has declined since 1960, becoming a prominent issue within the country. [3]
In February 2019, the Korean TFR fell to 0.98, well below the replacement level of 2.1 births. South Korea is now the fastest aging developed country in the world. The Korean government (and their failing actions against the birth rate issue) and the worsening economic environment for young people are blamed as the main cause. [22]
The poverty rate of elderly people in South Korea is the highest among the OECD countries. Poverty rate in South Korea (age 65+) in 2011. South Korea's pension scheme was introduced relatively recently, compared to other democratic nations.
This list of countries by life expectancy provides a comprehensive list of countries alongside their respective life expectancy figures. The data is differentiated by sex, presenting life expectancies for males, females, and a combined average.
The first proposer was Yoo Si-min, the Minister of Health and Welfare, but the name was changed to the basic old-age pension, and the basic old-age pension law was proposed by Kang Ki-jung of the Uri Party (currently the Democratic Party) on March 30, 2007 and passed the plenary session on April 2, 2007 and took effect on January 1, 2008. [8]
It is the only index associated with the age distribution of a population. [1] Currently, the median age ranges from a low of about 18 or less in most Least Developed countries to 40 or more in most European countries, Canada, Cuba, Hong Kong, Japan, South Korea, Taiwan, and Thailand.
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The poverty rate of elderly people in South Korea is the highest among the OECD countries Poverty rate in South Korea (age 65+) in 2011. Choo, Park and Yoon noted that both absolute and relative poverty have declined in Korea from 1965 to 1990. [1]