Elderly concerned most about finances, health: survey

Aging Koreans cited economic difficulty and health as their biggest concerns, but the weight of their worries varied according to their education levels, a report showed Monday.

In a survey of 60-year-olds by Statistics Korea, 43.2 percent of the respondents with elementary education picked economic difficulty as their top concern. Health closely followed at 40.5 percent, while unemployment and loneliness each stood at 4.7 percent and 4.3 percent.

In contrast, 40.5 percent of the respondents with college education said health was their biggest worry. Economic difficulty was cited as a less serious problem at 25.3 percent, according to the report.

A total of 8.1 percent of the respondents also picked weakening respect for the elderly, reflecting their concerns over a fading Confucianism culture in modern-day Korea.

Meanwhile, the report raised concerns on preparations for elderly life.

A total of 80.5 percent of respondents with college education said they have been preparing for elderly life, while the figure came in at 38.6 percent for those with elementary education.

Only 7.8 percent of the latter said they plan to prepare, while 58.5 percent said they don’t have the ability and 28.7 percent said they plan to depend on their children.

South Korea is one of the world’s fastest aging countries, with the country’s graying labor force and low birthrate feared to hurt long-term growth potential.

(Yonhap News)