South Korea ranks first in the OECD for elderly poverty rate... South Korea is the only country with a poverty rate of over 40%

South Korea's elderly poverty rate has once again ranked first among OECD (Organization for Economic Co-operation and Development) member countries. According to a recent report published by the OECD, the number of people aged 66 and over in South Korea as of 2020 is
The income poverty rate of the population was 40.4%, nearly three times higher than the average for OECD countries (14.2%). The income poverty rate is defined as those whose average income is less than 50% of the disposable income of the median household, which is the poverty reference line.
This is the percentage of the population that is fully satisfied. South Korea is the only OECD member country with an income poverty rate of over 40% for the elderly. After Korea, Estonia (34.6%) and Latvia (32.2%) have 30
Japan (20.2%) and the United States (22.8%) remained at half the level of South Korea. Countries with low elderly poverty rates are Iceland (3.1%), Norway (3.8%), and Denmark.
(4.3%) and France (4.4%), mainly in Northern and Western European countries. The poverty rate for the elderly in South Korea worsens as the age increases.
Among the elderly population aged 66 and over, the income poverty rate for those aged 66 to 75 is 31.4%;
At 52.0%, more than one in two people belong to the poverty group. By gender, the income poverty rate for Korean women aged 66 and older was 45.3%, 11.3% higher than that for men (34.0%). OEC
The D average was 11.1% for men and 16.5% for women. The OECD states, ``Older women have a higher poverty rate than older men because their pension benefits are lower in relation to their income and their expected lifespans are longer.''
In South Korea, the difference in poverty rates between elderly men and women exceeds 11%, which is a relatively large difference." Older people had lower disposable income than the overall population in most OECD countries, but South Korea had a particularly
The situation turned out to be serious. The average disposable income of people aged 66 and over in OECD countries was 88.0% of the average disposable income of the entire population. 93.2 for those aged 66-75
%, and 80.9% of those aged 76 and older showed that their disposable income decreased as they got older. The disposable income of South Korea's elderly population was 68.0% of the total, the second lowest after Lithuania (67.4%). Over 76 years old
The top score was 58.6%, the lowest among OECD member countries. The disposable income of Japan's elderly population is 85.2%, compared to 93.2% in the US, and for those aged 76 and over, it is 78.0% in Japan and 83.8% in the US.
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