Senior Jobs to Create 1.2 Million Positions by 2027, Reaching 10% of Elderly Population

With the imminent entry into a super-aged society, the government has decided to increase senior jobs to 1.2 million, which is about 10% of the elderly population by 2027, and expand new customized jobs for the elderly.

Senior Job Opportunities [Image Source=Yonhap News]

On the 27th, the Ministry of Health and Welfare announced the ‘3rd Comprehensive Plan for Senior Jobs and Social Activity Support (2023~2027)’ at the Low Birthrate and Aging Society Committee’s Steering Committee. Public interest activity-type jobs targeting low-income seniors will be gradually expanded, and social service-type and private sector jobs will be significantly increased to account for more than 40% of all senior jobs.

The elderly population in Korea, currently about 9.3 million this year, is expected to increase to 11.67 million by 2027. The Ministry of Health and Welfare aims to increase the total number of senior jobs to around 1.2 million, which is 10% of the projected elderly population by 2027. Additionally, policies for senior jobs will be established to respond to diverse demands from the new senior generation (Baby Boomer generation) and others.

First, public interest activity-type jobs will provide appropriate activity allowances reflecting inflation rates and minimum wage levels. Currently, the activity allowance is only 270,000 KRW per month based on 30 hours of work per month. Also, to ensure that public interest activity-type jobs are not limited to simple tasks, ‘Nono Care’, leisure and exercise instructors at senior centers, resource circulation, and other publicly valuable jobs will be discovered and expanded.

The ‘Baby Boomer generation’ equipped with IT capabilities is soon entering the new senior generation. Accordingly, the Ministry of Health and Welfare plans to increase jobs that can utilize the expertise and diverse experiences of these generations. These are social service-type jobs. They are expected to increase from 90,000 to 210,000.

Private sector jobs will also be revitalized. This is to enable the new senior generation to continue demonstrating productivity in private companies. The government plans to expand incentives for companies that employ seniors long-term and widely promote flexible, elastic jobs with flexible working hours and conditions. New jobs that match the working preferences of seniors will also be continuously discovered. Private sector jobs are expected to increase from 190,000 to 290,000 by 2027.

The government will strengthen the legal and institutional foundation to ensure the sustainability of senior job projects. The Senior Job Act, which forms the basis of senior job policies, will be enacted, and the delivery system involving project implementing agencies, local governments, and responsible personnel will be improved.

Lee Gi-il, the 1st Vice Minister of the Ministry of Health and Welfare, said, “Senior jobs are necessary not only for ultra-aged low-income elderly but also for younger seniors who have high productivity but lack retirement preparation,” adding, “We will make sure these jobs become good jobs that guarantee retirement income and support socially vulnerable groups.”

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