"President Yoon in a Dilemma"...Foreign Media Also Focus on 'Korean Elderly Free Riding'

Foreign Media: "Economic Powerhouse but Challenges in Elderly Welfare Costs"

Foreign media are also paying close attention to the controversial issue of "free public transportation rides for seniors aged 65 and over" in South Korea.

On the 16th (local time), major foreign media reported, "The benefit enjoyed by seniors aged 65 and over nationwide in South Korea for the past 40 years has been credited with contributing to the activity of the elderly," but added, "However, due to rapid aging and soaring subway operating costs, it has become a politically sensitive issue."

They went on to say, "The controversy over free subway rides for seniors is one of the broad challenges facing South Korea, the fourth largest economy in Asia, where elderly welfare costs are rapidly increasing."

Foreign media also noted, "President Yoon Suk-yeol is in a difficult situation," diagnosing that despite pledges to restore fiscal soundness, improvements are delayed because elderly voters, a core support base of the ruling People Power Party, are included.

They added, "Consumers are already dissatisfied with inflation hitting a 24-year high, steep increases in public utility rates, and the economy recording negative growth for the first time in over two years last quarter," explaining, "Some members of the People Power Party warn that reducing the free subway rides for seniors would not help in next year's parliamentary elections."

The media cited the case of Mr. Park, who does "Silver Delivery" using the subway. Mr. Park, 71, earns up to 700,000 won per month by delivering flowers, documents, and other parcels while riding the subway for free. In an interview, Mr. Park said, "It's fun and good for my health," adding, "If the subway wasn't free, I don't think I would do it because there would be no profit."

They also covered the Ministry of Economy and Finance's position that the government has funded the construction and improvement of the subway system, but operating costs must be borne by each city.

Bang Ki-sun, the first vice minister of the Ministry of Economy and Finance, told Reuters, "Seoul's financial condition is much stronger than the country's. Considering that situation, I think it is somewhat unreasonable to demand that the national government take responsibility."

The media listed cases such as Daegu Metropolitan City, which is considering gradually raising the free ride age limit to 70, and Daejeon Metropolitan City, which is considering similar policies.

Meanwhile, according to Statistics Korea, the elderly population aged 65 and over in 2022 was 9.018 million, accounting for 17.5% of the total population. By 2025, the proportion of those aged 65 and over will reach 20.6%, entering a super-aged society.

Seoul City has announced plans to raise public transportation fares as it can no longer bear the accumulated deficits caused by free rides.

However, President Yoon stated, "People are complaining about difficulties as heating costs have increased and transportation fare hikes are added," and declared a policy to maintain a freeze on public utility rates managed by the central government, such as roads, railways, and postal services, as much as possible during the first half of the year.

This content was produced with the assistance of AI translation services.