Health and Welfare Policy Forum

Social Expenditure and Financial Burden Indicators: International Comparison from the Perspective of Population Aging

  • Author

    Lee, Young Suk

  • Page

    15-29

  • PubDate

    2025. 10.

  • Language

    kor

Since becoming what is known as an “aged society,” Korea has seen increases in its social welfare expenditure, tax burden, and government debt ratio, narrowing the gap with OECD averages. As of 2023, with 18.2 percent of its population aged 65 and over and welfare spending and fiscal burden still relatively low, Korea appears to have more room for expansion than other OECD countries with comparable aging populations. However, as the proportion of the elderly population continues to rise rapidly in the coming years, social expenditures are likely to increase in old-age income protection, healthcare, and long-term care. As a long-term result of the persistent low birthrates, a surge is likely in the old-age dependency ratio. These trends highlight the need for financial risk management to ensure the sustainability of social welfare and for policies that are more responsive to the changing socioeconomic needs.

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