A society where everyone is old, the 'Silver World,' is coming.
Thanks to advances in science and technology and economic growth, human lifespans are getting longer. However, Korea is aging at a shockingly fast pace. According to Statistics Korea, the global proportion of people aged 65 and older is expected to increase from 9.8% in 2022 to 20.1% by 2070. In contrast, Korea's elderly population will rise dramatically from 17.5% to 46.4% during the same period. This means that by 2070, nearly half of Korea's population will be elderly.
In Korea, life expectancy is among the
highest in the world, but the birth rate is the lowest. This combination makes
Korea the fastest-aging country globally. Some even worry that if this trend
continues, the country might disappear.
The era of the 'Demographic Bonus,' where a
young and dynamic population drove growth, is now over. We are entering, or
rather, have already entered, the 'Demographic Onus' era. In this new reality,
the working-age population is shrinking, while the number of elderly people who
need support keeps growing.
Korea is set to become the country where
people live the longest.
Isn't it a blessing and something to be
grateful for that this nation has been granted the gift of longevity? Let’s
look at a 2017 study published in the prestigious medical journal The Lancet.
Conducted by Imperial College London and the World Health Organization (WHO),
this study used WHO data and statistical models to predict life expectancy at
birth for 35 OECD countries in 2030. According to the study, Korean women are
expected to live the longest globally by 2030, with a life expectancy of 90.82
years. Korean men are projected to live 84.07 years on average.
Growing old is no longer unusual—it has
become normal and widespread. Every aspect of society, including family, jobs,
housing, pensions, finance, healthcare, transportation, and travel, must adapt
to this shift. And that’s not all. The population is also shrinking. Korea's
birth rate was 1.13 in 2006 and plummeted to 0.78 in 2022, showing just how
quickly population decline is accelerating.
David Coleman, a renowned demographer at
Oxford University, predicted back in 2006 that Korea would be the first country
to face population extinction. While the immediate impact may not feel obvious,
the cumulative changes could lead to irreversible social and economic disasters—or
they could spark innovation and usher in a new era of prosperity.
Now, it is nearly impossible to stop or
delay the arrival of the 'Silver World.' Instead, we must focus on embracing
this inevitable change and finding ways to create value in this new reality.
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What age is
considered "old"? In Korea, there
isn’t a clearly defined legal standard for old age. However, the Elderly
Welfare Act indirectly refers to “seniors aged 65 and older” in Article 1-2
(Definitions). Additionally, Article 26 of the same law specifies that those
eligible for senior benefits are “persons aged 65 and older.” Thus, the age
of 65 is commonly regarded as the standard for defining old age in Korea. This tradition
of viewing 65 years and older as "elderly" began with Germany’s
old-age pension system. In 1871,
Germany experienced economic prosperity after winning the Franco-Prussian
War. However, an economic depression and financial crisis starting in 1873
led to mass unemployment and growing inequality. In response, socialist
movements began to rise rapidly. To curb the spread of socialism, Otto von
Bismarck, Germany's "Iron Chancellor," adopted a dual strategy. Repression of
Socialism: He passed the “Anti-Socialist Laws,” which banned the activities
of socialist-related groups. Introduction of
Social Welfare: To secure workers’ rights and support their livelihoods,
Bismarck introduced Europe’s first modern social security system. As a result,
Bismarck became the pioneer of modern welfare policies in Europe. |
The Rise of the 'Silver World': How Old Age
Became Defined as 65
Germany introduced its first welfare
programs in the late 19th century, beginning with health insurance in 1883,
followed by workers' compensation insurance in 1884 and old-age pensions in
1889. Initially, the age to receive pensions was set at 70, but in 1916, it was
lowered to 65. As Germany’s old-age pension system spread to Europe and the
United States, the age of 65 became widely accepted as the standard for
defining old age.
Today, organizations like the UN, OECD, and
most countries use "65 and older" as the age criterion for
identifying seniors.
Aging Society: Definitions and Korea’s
Reality
The UN categorizes societies based on the
proportion of seniors (65+) in the population:
Young Society: Less than 4% of the
population is elderly.
Mature Society: 4%–7%.
Aging Society: 7%–14%.
Aged Society: 14%–20%.
Super-Aged Society: Over 20%.
Korea reached aging society status in 2002
when seniors made up 7.9% of the population. By 2018, Korea became an aged
society at 14.4%, and by 2022, the figure had risen to 17.5%—about 9.26 million
people out of 51.43 million, roughly equivalent to the entire population of
Seoul (9.43 million).
Looking forward:
In 2030, seniors will make up 25% of the population.
By 2040, this figure will climb to 33.9%,
and by 2045, Korea will surpass Japan (36.7%) to become the country with the
highest proportion of elderly people in the world at 37.0%.
By 2070, nearly half of Korea’s population
will be seniors, and the median age—the age dividing the population into two
equal halves—will be 62.2 years.
Whether welcomed or not, the Silver World
is no longer a distant future—it is a reality we are already living in. The
question now is how to adapt to and thrive in this rapidly aging society.
A Period of Love, Not Illness: The Gap
Between Life Expectancy and Healthy Life Expectancy
Life expectancy refers to the average
number of years a person born in a specific year is expected to live. Another
important measure is healthy life expectancy, which estimates the number of
years a person is expected to live in good health.
Between life expectancy and healthy life
expectancy lies a challenging phase known as the period of illness—the years
when people may suffer from chronic conditions, disabilities, or require care
from others. In Korea, this period lasts an average of 14.9 years for men and
19.3 years for women.
This stage of life often brings physical
and emotional hardships but also presents opportunities to foster love and care
among families and communities. By focusing on improving healthcare, support
systems, and quality of life, this time can be transformed from merely enduring
illness into creating meaningful connections.
Transforming
the ‘Period of Illness’ into a ‘Period of Love’
In the Silver World, the challenging
years of illness—the "period of illness"—will shift to a "period
of love." During this phase, every activity will generate new economic
value because it becomes a time of caring for oneself and embracing life more
fully. Instead of suffering in isolation or merely enduring chronic conditions,
seniors in the Silver World can enjoy life while receiving care and
sharing love, despite physical limitations.
Unlike previous generations, these seniors
are accustomed to living life in their own unique ways, possess greater wealth,
and have a strong desire to conclude their lives happily and meaningfully. The
outdated stereotype that the elderly are non-consumers, burdensome, and
destined to suffer must be discarded. While aging undeniably brings social
challenges, addressing these should focus on policy and societal consensus,
not on perpetuating negative biases.
At the same time, aging offers opportunities
for new industries and markets. Our society has long avoided confronting
the realities of aging gracefully and dying with dignity. However, the desire
and right to age beautifully and die humanely will become a massive industry.
Markets and technology thrive on human
needs, and as these needs evolve, so will industries. The question is: What
will we need in the future? By exploring examples and ideas, we can begin
to uncover potential solutions and opportunities in this transformative era.
Discovering
"Fandom" Through Trot
In 2019, the TV Chosun audition program
Miss Trot marked the beginning of a cultural phenomenon, which blossomed
further in 2020 with Mister Trot. This era gave birth to iconic trot singers
like Song Ga-in, Lim Young-woong, Young Tak, Lee Chan-won, and Jang Min-ho,
sparking a nationwide trot craze and dominating the entertainment industry.
However, the real stars of this phenomenon
weren’t just the performers or the programs—it was the active, passionate, and
engaged 50s and 60s generation. Unlike the 5080 audience who casually enjoyed
trot music through traditional TV shows like Kayo Stage in the early 2000s,
today’s seniors exhibit a completely different fan culture.
These fans join online fan clubs to
exchange information, organize group trips via chartered buses, and coordinate
outfits for live performances in rural areas. Whether online or offline, they
find a sense of belonging in being fans of their chosen stars and take pride in
seeing them grow and succeed. In essence, they’ve embraced what’s often
referred to as “fangirling” or “fanboying.”
This vibrant fan culture has made
fandom-based marketing a natural and essential strategy for targeting seniors.
The 5080 generation is redefining what it means to be a fan, proving that
devotion to a star can create joy, build communities, and even transform
cultural industries.
Travel
Aspirations and Opportunities for Seniors: Insights from 2016
In 2016, travel company Expedia conducted a
survey with 1,000 South Korean men and women aged 50 and above, asking, “What
do you most want to do for a happy life?”
The overwhelming majority, 84.5% (allowing for multiple responses), chose travel
as their top priority. This choice reflects the desire to fill the leisure and
sense of emptiness that often accompany retirement.
Preferred Type of Travel
Rather than participating in
family-organized tours, such as “filial piety tours” (12%), seniors
overwhelmingly preferred self-driven, independent travel (88%). They
expressed a desire to visit new places and emphasized gaining new experiences
and knowledge by exploring one country in-depth.
Assistance for Travel Needs: Travel
Helpers
For seniors who desire such travel but face
physical challenges, services like “Travel Helpers” could be a
game-changer. Travel Helpers provide tailored assistance based on an individual’s
health and mobility, ensuring that age or physical limitations no longer pose
barriers to exploring the world.
The rise of specialized Travel Helpers and
matching platforms is expected to grow, enabling seniors to enjoy travel
without worrying about logistics or support.
Who to Travel With?
While many seniors have traveled with
spouses, children, or friends, a new and cherished travel relationship has
emerged—one with grandchildren.
An example of this trend is Road Scholar, founded in 1975 in the U.S.
Originally offering affordable lifelong learning programs for seniors, the
company introduced customized intergenerational travel programs in 1985,
enabling seniors to travel with their grandchildren. This initiative has been
highly successful, offering meaningful experiences for both generations.
Active Travel Options: Cycling for
Seniors
For more active travelers, cycling offers
an appealing option. According to the Korea Transport Institute, there are 13.4
million cyclists in South Korea, with 3.3 million cycling daily. Cycling tours,
especially with electric bicycles, provide an accessible way for seniors
to engage in active travel.
A notable example is Butterfield &
Robinson, a travel company founded in 1966 with the motto, “Slow down to
see the world.” This company caters to seniors aged 50 and above who wish
to explore by cycling or walking. Their tours provide:
- Travel guides and support vehicles for luggage transportation
- Assistance with any issues encountered during the journey
Butterfield & Robinson offers over 100
travel packages worldwide, demonstrating the growing interest in active,
adventurous travel among senior populations.
As the senior travel market continues to
evolve, options for meaningful, independent, and active travel are becoming
more accessible, paving the way for seniors to fulfill their travel dreams at
any stage of life.
A Glimpse into the Reality of Korean
Nursing Homes: Translation
The Hankyoreh newspaper published a
series titled "Korea Nursing Home Report" from May 13 to June
7, 2019. The articles were based on the firsthand experiences of a journalist
who worked at a nursing home.
This series vividly portrayed issues inside
Korean nursing homes from the perspectives of patients, caregivers, and
families, receiving critical acclaim. It won awards such as the Journalism
Human Rights Award and the Kwanhun Press Award. Below are excerpts
from this impactful series:
As time went on, the question shifted from
"How can we provide good care?" to "How can we manage
everything?" While personal undergarments and clothes existed, most
residents wore communal clothing without gender distinctions. Their hair was
uniformly cut short—simply for easier management. With a severe shortage of
caregivers, "care" disappeared, leaving only efficiency.
Just ten minutes before mealtime, elderly
residents would be seated on half-raised beds, wearing identical aprons,
staring blankly as they waited for food. The uniformity was chilling.
The nursing home resembled a detention
center—"a place where groups of people are confined or gathered."
During the journalist's month-long observation, the nursing home functioned
like a prison. A "release" was only possible through death. The
communal living stripped individuals of their identities, homogenizing even the
color of their excrement, which matched in consistency, volume, and hue due to
standardized diets.
(Source: “A Place of Liberation Only
Through Death—The Prison-Like Reality of a Nursing Home,” May 13, 2019, by
Ji-dam Kwon, The Hankyoreh)
This haunting depiction of nursing homes as
prisons is a grim reality. However, for the sake of dignified deaths, change is
imperative.
Ensuring a graceful end to life is an essential task for society.
The Chase Memorial Nursing Home Case
Study
To explore potential solutions, let’s
examine the case of Chase Memorial Nursing Home in New York, USA. In
1991, a young doctor named Bill Thomas joined this facility, aiming to
transform its lifeless and isolating atmosphere into a lively, homelike
environment.
Dr. Thomas successfully persuaded state
legislators to allow more animals in the facility than regulations typically
permitted. As a result, dogs, cats, and birds were introduced as companions for
residents.
Each room was adorned with plants, and the
nursing home’s lawn was converted into vegetable and flower gardens to bring
residents closer to nature. The facility also opened its doors to local
communities, creating after-school programs and daycare facilities for staff
and local children.
These changes sparked transformation:
- Residents began feeding the pets, watering plants, gardening,
and walking the dogs.
- The previously lifeless space became vibrant and filled with a
sense of purpose.
The results were dramatic:
- A 50% reduction in medication use
- A 30% reduction in medication expenses
- A 15% decrease in mortality rates
This example demonstrates that Korean
nursing homes, currently focused on efficiency, can also evolve toward a
brighter future.
Preparing for a Good Death: Professional
Services
Companies like Caring Transitions,
founded in 2006, provide specialized services for senior care, including
selecting nursing homes, estate management, and even inheritance planning. With
200 franchises across the U.S., their services bridge geographical distances
between families.
Another example is Wellthy, a
company launched in 2015. While it serves individual clients, its primary focus
is corporate employee benefits. Wellthy assists employees juggling elder care
and work responsibilities by offering legal advice, financial counseling,
housing relocation, nursing home placement, and healthcare consulting.
Growing Market in Korea
In Korea, the eldercare market is also
expanding. The caregiving industry alone is estimated at ₩12 trillion. Services
like Care Nation and Code Blossom help match caregivers, while Care
Partners (operated by Bousalim Co.) and YoBoSaRang (by the Korea
Senior Research Institute) specialize in connecting clients with certified care
assistants.
As an aging society looms, it’s crucial to
focus not on "years of illness" but on "years of love and
dignity." Preparing for a good death will become an essential part of
life, and businesses supporting this transition are likely to flourish.
(Note: In Korea, care assistants are
licensed professionals regulated under the Elderly Welfare Act, while
caregivers are typically unlicensed workers in the private sector.)
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