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In 2024, the relative poverty rate in South Korea stood at around **** percent, which was slightly higher than in the previous year. The relative poverty rate, the share of people living with less than half of the national median disposable income, has fallen in recent years. However, the numbers are still relatively high by global standards, especially among older people. 

Relative poverty among older adults

The share of older people in South Korea continues to rise. In 2024, the elderly population aged 65 years and older accounted for about ** percent of the total South Korean population. In 2024, South Korea has become a 'super-aged' society, with people aged 65 and older accounting for more than 20 percent of the total population. However, the economic situation of older people has improved little – around ** percent of the elderly population lives in relative poverty, which is among the highest rates of member countries of the Organization for Economic Co-operation and Development (OECD). 

Poverty and suicide risk among older adults

South Korea has the highest suicide rate in the OECD, with * people taking their own lives in 2023. The suicide rate among older adults is exceptionally high. The suicide rate was highest among the elderly male population aged 80 years and older. The most cited causes of suicide among people aged 65 years and older were health problems and financial difficulties.