The Korea Herald


[Monitor] Korea's old-age dependency ratio to spike

By Korea Herald

Published : May 25, 2017 - 16:13

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South Korea’s old-age dependency ratio is forecast to surge to some 80 individuals aged 65 and over for every 100 persons of working age (20-64) by year 2075, which will be the highest among the members of the Organization for Economic Cooperation and Development.

Citing the OECD indices, the National Assembly Research Service said that this means 1.25 working-age people would be financially responsible for one senior citizen 60 years from now.

Currently, as of 2015, the comparative ratio is 19.6, lower than the OECD average of 27.6 and Japan’s highest ratio of 47.2.

The ratio is expected to spike to 31.1 in 2025, 71.5 in 2050 and 80.1 in 2075.

South Korea is expected to officially become an aged society this year with the ratio of people aged 65 and older hitting 14 percent.