Childhood Household Benefits 131 Trillion Won, Elderly Household Labor 490 Trillion Won

Statistics Korea, Analysis of National Time Transfer Accounts

Statistics Korea has classified and released data on the production and consumption of unpaid household labor by generation.

According to the National Time Transfer Account analysis data announced by Statistics Korea on the 27th, the "household labor life cycle deficit" showed a deficit for the childhood group, while the working-age group and the elderly group showed a surplus.

The National Time Transfer Account refers to the production and consumption of household labor not included in the national accounts (GDP). If the household labor one produces (production) is greater than the household labor one receives (consumption), it is recorded as a surplus; the opposite is recorded as a deficit.

For the childhood group aged 0 to 14, a deficit of 131.6 trillion KRW was recorded. The childhood group, which requires care, consumed 131.6 trillion KRW worth of household labor but did not produce any household labor. The working-age group (15?64 years) showed a surplus of 128.1 trillion KRW (production 410 trillion KRW - consumption 281 trillion KRW), and the elderly group also recorded a surplus of 3.5 trillion KRW (production 80 trillion KRW - consumption 77 trillion KRW).

By gender, males had a deficit of 91.6 trillion KRW as their consumption of household labor exceeded production, while females had a surplus of 91.6 trillion KRW.

Looking at the life cycle per capita, the deficit was largest at age 0 with 36.38 million KRW, then shifted to a surplus from age 26, reaching the maximum surplus (10.26 million KRW) at age 38 due to child-rearing and other factors. Males entered surplus at age 31 and reverted to deficit at age 47, while females shifted to surplus at age 25 and back to deficit at age 84.

Statistics Korea stated, “We have detailed the age distribution of household labor in response to demographic changes,” and evaluated that “this will be usefully utilized as a basis for policy formulation to prepare for low birth rates and aging, such as fiscal expenditure and childcare support policies.”

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