Workers over 60 become largest employed age group in Korea for first time

Middle aged workers browsing job posts at a fair AJP Dong-woo Kim — This file photo shows middle-aged workers browsing job posts at a fair in Seoul. AJP Dong-woo Kim

SEOUL, October 22 (AJP) - Workers aged 60 and above surpassed those in their 50s last month, becoming South Korea's largest employed age group for the first time since relevant record-keeping began in 1982, data showed Tuesday.

According to Statistics Korea and the Ministry of SMEs and Startups, the number of employed individuals aged 60 and over reached a record 6.75 million in September, compared to 6.72 million workers in their 50s.

The 60-plus demographic now represents 23.4 percent of the total workforce, followed by workers in their 50s at 23.3 percent, 40s at 21.5 percent, 30s at 19 percent, and 20s at 12.4 percent.

Senior entrepreneurship has also seen remarkable growth, with businesses started by people over 60 in July increasing by 14.6 percent year-on-year to about 13,000.

This trend reflects South Korea's rapidly aging workforce and has prompted discussions about extending employment opportunities beyond traditional retirement age.

The Ministry of the Interior and Safety has already raised the retirement age for some public sector workers from 60 to 65.

Candice Kim candicekim1121@ajupress.com