As of December 2024, Korean people over 65  reached 20% of the population, which is 10 million of 50 million total.

By 2036, this figure is expected to hit 30%. Currently, almost 40% of 65 and over are considered to be living below the poverty level  . This is the highest elder poverty rate among the OECD countries. When one looks at the phenomenal economic growth of Korea, this statistic is indeed eye-opening. At the same time, the tradition of familial support of the elders is disappearing. The society was not ready for  this change.