Two out of five elderly people in South Korea live in poverty...Women are in a worse position

It has been revealed that the elderly poverty rate in South Korea has worsened over the past two years. According to data from the Ministry of Health and Welfare and Statistics Korea, the elderly population (those aged 65 and over) will be 1.2 billion yen by 2023 based on disposable income.
The relative poverty rate for the top 100 in the United States was 38.2%. Disposable income is the amount of income that can be freely consumed or saved, and is calculated by subtracting taxes from an individual's income and adding public income such as pensions.
The relative poverty rate refers to the percentage of all elderly people whose income level is 50% or less of the median income (the relative poverty line).
Looking at the elderly poverty rate by gender in 2023, it will be 31.8% for men and 43.2% for women, with women even more likely to be in poverty.
The elderly poverty rate in South Korea has been declining from the mid-40% range to the early 40% range from 2013 to 2019, reaching the 30% range for the first time in 2020 (38.9%).
%). The following year, in 2021, it fell further to 37.6%, but is expected to rise again to 38.1% in 2022 and 38.2% in 2023.
Meanwhile, South Korea's elderly poverty rate is the highest among the OECD (Organization for Economic Cooperation and Development).
According to OECD data, the income poverty rate for South Korea's elderly population (aged 66 and over) is 40.4% (as of 2020), the lowest among OECD member states.
This is nearly three times higher than the average (14.2%).