How does healthy ageing affect economic growth in the Republic of Korea? (2020)

This report suggests that, although population ageing has historically been associated with slower economic growth, a healthy and active older population can have economic benefits. Model estimates indicate that relatively small improvements in disability rates among older people in the Republic of Korea can result in sizeable economic impacts by the end of the century.

Policies aiming to promote healthy and active ageing can play an important role in mitigating the adverse economic effects of ageing. Some effective policies that have been proposed in the literature to promote healthy ageing and improve disability rates reflect a life-course approach, including: preventing disease progression, cognitive and frailty declines; workplace initiatives; and other interventions outside the health system (Cylus, Normand & Figueras, 2018).

An assessment of possible approaches to support the health needs specific to the Republic of Korea’s ageing population would be useful so that appropriate policy interventions can be considered and the full potential of the older population realized.