'It's Painful Enough'... Caregiving Costs Rise 10% for Two Consecutive Months, Double Hardship

Mr. A quit his job last year and is currently nursing his 89-year-old mother. Two years ago, the daily caregiving cost was around 90,000 to 100,000 KRW, but as the cost has soared this year, he could no longer bear the financial burden and decided to take care of her himself. Currently, the caregiving fee has risen to about 130,000 KRW per day. Mr. A said, "The caregiving cost exceeded my monthly salary, so I had no other choice."

Due to steep inflation and rising labor costs, caregiving fees have increased by more than 10% for two consecutive months. According to the National Statistical Office’s National Statistics Portal on the 13th, the consumer price index for caregiving helpers last month was 127.03, marking an 11.4% increase compared to the same month last year. This is the highest level since the index was incorporated into consumer price statistics in 2005 and follows a 11.7% increase in April, marking two consecutive months with a rise exceeding 10%.

The increase in caregiving fees was about 4.4% year-on-year in January 2021 but surged to 8.6% in June last year. In September of the same year, the growth rate entered the 9% range for the first time at 9.0%, followed by 9.4% in January this year, 8.5% in February, 9.8% in March, and jumped to double digits starting last month.

The recent sharp rise in caregiving fees is attributed to sustained high inflation in the 5% range from the end of last year through January this year, which significantly increased labor costs. Factors such as transportation expenses, meal costs, and minimum wage hikes have collectively impacted caregiving fees. Additionally, the rapid aging of the population and the resulting increase in care demand are also major causes. According to a paper by Professor Lee Jin-seon of Seoul National University’s College of Nursing titled "Estimation of Private Caregiving Costs and Policy Implications of Integrated Nursing and Caregiving Services," private caregiving costs increased 2.2 times over ten years, from 3.655 trillion KRW in 2008 to 8.024 trillion KRW in 2018. Experts estimate that private caregiving costs exceeded 10 trillion KRW as of last year.

As caregiving fees soar, the burden of patient care is also growing. According to a survey conducted last month by the polling agency Southern Post, 96% of respondents who have experience hiring caregivers found the daily caregiving cost of around 100,000 KRW burdensome. Among those who or whose family members have been hospitalized, about 53.4%, or roughly one in two, have experienced caregiving, indicating that while hiring caregivers has become established in society, the financial burden continues to rise steadily.

An official from the National Statistical Office stated, "With ongoing inflation, labor costs for domestic helpers and caregiving helpers are increasing, and considering the aging trend and minimum wage hikes, this upward trend is expected to continue for the time being." In response, Professor Koo Jung-woo of Sungkyunkwan University’s Department of Sociology advised, "It is necessary to consider measures to meet the demand for caregiving helpers through foreign workers."

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