POVERTY OF ELdDERLY WORKERS IN SOUTH KOREA

Аннотация

as a result of population aging and economic changes, poverty rates among the elderly, especially those in the workforce, are increasing. Although South Korea has a social protection system for the elderly, many older workers struggle to meet their needs. The article examines the support systems for older workers, their economic situation, social protection programs, and labor market opportunities. Key words: older workers, social protection, poverty, pension system, health problems, psychological support, social services, economic changes, financial security. The number of elderly workers in South Korea has been increasing in recent years. According to data from 2021, the number of individuals aged 65 and older actively participating in the labor market was approximately 1.5 million. This figure has risen from over 1.4 million in 2020 and is expected to continue increasing in the future. The share of elderly individuals in the labor market is also growing. In 2022, the employment rate for those aged 65 and older was above 10%. This trend is related to social and economic factors, as many elderly individuals are compelled to work to ensure financial security. The role and share of the elderly in the labor market are changing in accordance with South Korea's demographic shifts, social policies, and economic conditions. While South Korea is known for its economic development 684 INTERNATIONAL JOURNAL OF ARTIFICIAL INTELLIGENCE ISSN:2692-5206,ImpactFactor:12,23 AmericanAcademicpublishers,volume05,issue08,2025 Journal: https://www.academicpublishers.org/journals/index.php/ijai and technological innovations, the issue of poverty among elderly workers is of serious importance. The growing number of seniors and changes in the labor market make this problem even more urgent. In South Korea, the pension system is still in the process of development. Many elderly workers face financial difficulties dueto limited access topension payments. As a result, they are often forced to take low-paying jobs. It is difficult for them to acquire new skills and find new employment, further worsening their economic situation. With age, health problems increase, which limits their ability to work. Health care costs also exacerbate poverty. Elderly workers often feel socially isolated and lonely, which affects their mental health and limits their economic activity. The poverty of elderly workers negatively impacts not only their personal lives but also the overall development of society. Poverty exacerbates social inequality and can lead to social conflicts. The connection between poverty and health issues places an additional burden on the state’s healthcare system. The exclusion of elderly workers from economic activity negatively affects the overall economic growth of the country. The government needs to strengthen and expand the pension system. This will help provide financial security for elderly workers. Developing skill enhancement and retraining programs for elderly workers will increase their competitiveness in the labor market. Strengthening social services and improving the social support system for elderly individuals will help enhance their quality of life. Expanding healthcare services and creating specialized programs for elderly individuals will help ensure their well-being. Poverty among elderly workers remains a serious issue in South Korea. However, this problem can be addressed through measures taken by the government and society. Improving the quality of life for elderly individuals and engaging them in social life not only enhances their personal well-being but also contributes to the stable development of society. South Korea is one of the fastest aging countries in the world. As the number of individuals over 65 years old increases, the burden on their employment and social security system is also growing. This situation leads to difficulties in ensuring financial security for many elderly individuals. Although there is a social security system for the elderly in South Korea, it is often insufficient. The pension system is frequently inadequate, failing to fully support elderly workers. As a result, many seniors are forced to work, but their wages are often low and insufficient to resolve financial problems. Elderly workers are often not competitive in the labor market. They are frequently compelled to take low-paying and physically demanding jobs. Additionally, their ability to compete with younger generations is limited, further reducing their chances of finding employment. Elderly individuals often face challenges in adapting to modern technologies and new work methods. Due to their educational levels and skills not meeting the demands of the contemporary labor market, they are deprived of opportunities to secure higher-paying jobs. Seniors often experience social isolation and loneliness. This situation negatively affects their psychological state and leads to additional difficulties in the job application