South Korea employment for elderly highest among developed countries

SEOUL, Sept. 27 (UPI) -- South Korea's employment rate among the population aged 65 or older is the highest among developed countries, statistics show.

The employment rate among seniors aged between 70 and 74 is the highest with 33 percent among 28 European Union member countries, according to the elderly population census, released by Statistics Korea on Thursday.

The rate is more than twice higher than Estonia with the second highest senior employment rate of 16 percent and Romania with the third highest rate of 14 percent.

The senior employment rate in one of the world's fastest aging societies has been on the rise since 2000.

The employment rate of the 70-74 age group has risen from 27 percent to 33 percent and that of the 65-69 age group from 43 percent to 46 percent.

The survey showed that many seniors expressed willingness to work to earn living expenses (59 percent) and enjoyment of working (34 percent).

"For the past five years, those who want to earn living expenses are increasing while those who want work for pleasure is decreasing," Statistics Korea said.

The number of elderly over 64 has increased to consist of 14 percent of the total population, the threshold that officially names society "aged," according to the 2017 state population census.