Why South Korea faces the highest rate of elder poverty in the OECD
Despite its status as a global leader in technology and culture, South Korea faces a staggering poverty crisis among its elderly. This video examines the startling disparity between the nation's advanced economy and the financial reality of its seniors.
South Korea stands as a statistical outlier among the 38 OECD nations. While the OECD average for relative poverty among citizens aged 65 or over is approximately 12-13%, South Korea's rate reaches 46%.
This crisis is particularly striking when compared to other aging economies. For instance, Japan's elderly poverty rate is 20%, significantly lower than the Korean figure. The video explores how such high levels of poverty emerged in a nation defined by its sleek technology and deep-rooted Confucian traditions of respecting the elderly.
Source: Why South Korea's Seniors Are So Poor
