The Seoul Metropolitan Government announced Monday that it will invest 3.4 trillion won ($2.49 billion) over the next five years into welfare policies and public facilities for older adults as Seoul expects to become a super-aged society by July 2025.
“Systematic policies and investments to ensure comfortable and happy lives for the elderly are a safety net for our future,” said Seoul Mayor Oh Se-hoon during a press briefing on Monday. “The goal of the city government’s plan is to ensure that every elderly person in Seoul is respected and enjoys a happy life.”
According to the city government, as of April, 19.8 percent of the city’s total population of 1.84 million people was over the age of 65. By July, the city expects to become a super-aged society, with those aged 65 and older accounting for 31.6 percent of the total population by 2040. A society or city is considered super-aged when the portion of people aged 65 surpasses 20 percent.
The city government added that its new project will focus on four main areas: care for older adults; financial stability; leisure and cultural activities for older people; and the creation of an elderly-friendly urban environment.
To strengthen care and health systems, the city government aims to build up to 225 public "silver care centers" for older people by 2040, with 85 of these being nursing homes and 140 being allocated as out-patient nursing facilities. Additionally, two out-patient nursing facilities specifically catered toward older people with severe dementia will also be established in each of the 25 districts, reaching a total of 50 centers by 2040.
To ensure financial stability even after retirement, Oh added that “up to 300,000 public sector jobs in fields such as home care, meal distribution support and safety inspections will be created for senior citizens by 2040,” accounting for up to 10 percent of the total older population in Seoul.
The city government also aims to create 30,000 positions for private sector jobs catered toward senior citizens. To support such companies hiring older workers, the city government added that it will provide subsidies of up to 60 million won while also operating internship programs for senior citizens in the private sector.
Oh also added that Seoul will also begin to operate a “Senior Employment Academy,” which will also offer job training and employment programs for older adults, aiming to employ up to 30,000 seniors by 2040.
To also increase older adults' opportunities to enjoy leisure activities, five multipurpose and cultural spaces specifically catered toward this demographic will be established by 2040. Utilizing abandoned schools and underused land, the city government aims to establish facilities such as mini golf courses and education centers.
According to the Seoul Metropolitan Government, the project will be implemented and monitored by the city government until 2040. Starting with an initial investment of up to 490 billion won in 2026, a total of 3.4 trillion won will be invested over the next five years until 2030.
lee.jungjoo@heraldcorp.com
