1. In Korea, old age is seen as a source of shame and poverty among the elderly is rampant.
2. The poverty rate among the elderly in Korea is four times higher than the OECD average, and close to four times higher than those aged 18-65.
3. The income replacement rate of the national pension is currently low, and if it remains so, future generations will still bear the title of 'the world's worst elderly poor country'.
This article from the JoongAng Ilbo provides an overview of the current state of elderly poverty in South Korea. It accurately states that four out of 10 Koreans aged 65 and over are in relative poverty, which is three times higher than the OECD average. It also mentions that this problem has been exacerbated by the lowering of the nominal income replacement rate for national pensions every year since its introduction.
The article does a good job at presenting facts and figures to support its claims, however there are some areas where it could be improved upon. For example, while it does mention that young people may not want to have children due to anxiety about their future, it fails to explore other potential reasons why this might be true such as economic instability or lack of access to childcare services. Additionally, while it does mention that raising insurance premiums and increasing income replacement rates could help improve elderly poverty rates, it fails to provide any evidence or research on how effective these measures would be in practice. Furthermore, while it does mention possible solutions such as raising insurance premiums and increasing income replacement rates, it fails to explore any counterarguments or potential risks associated with these measures such as increased taxes or decreased benefits for younger generations.
In conclusion, this article provides an accurate overview of elderly poverty in South Korea but could benefit from further exploration into potential solutions and counterarguments associated with them.