Korea became an ageing society in 2000, as the proportion of those 65 or older reached 7% of the population. Thereafter, the country is expected to undergo a rapid ageing process. Korea was belated compared to other advanced countries in reaching the ageing society status, but it is expected to become a super-aged society around the same time as others.
Lacking in basic data on ageing, Korea is in need of a structured set of statistical data. – Institutional reform and policy-making in preparation against the aged society require systematic build-up of data that can track individuals’ labor participation, income and asset status, spending patterns, retirement decisions, impact of social welfare, health, and intra-family transfer of income, among others.
The purpose of KLoSA is to create the basic data needed to devise and implement effective social, economic policies to address the trends that emerge in the process of population ageing.
The data will help identify and observe different dimensions of an aged society, build datasets that enable studies in different fields, and generate data comparable with similar panel studies in other countries (eg. U.S., Europe) that can provide the basis for policy-making and academic studies.