South Korea wakes up to the next K-wave: The 'silver economy' (NikkeiAsia/5 Oct 2024)

Nikkei Asia article highlights South Korea's rapidly aging population and its low birth rate, which hit a record low in 2023. With the elderly expected to make up 40% of the population by 2050, businesses are shifting their focus to the "silver economy," catering to older consumers. This shift is driven by the demographic crisis, as more young people opt to remain childless due to economic pressures. The growing elderly population has sparked a demand for new products and services that support active lifestyles in old age.