Employment of Koreans aged 55 to 64 reaches all time high

South Korea’s employment rate for people aged 55 to 64 climbed to a record 70.5 percent in 2025, government data showed Wednesday, crossing the 70 percent threshold for the first time since records began in 1983.

The rate rose from 69.9 percent a year earlier, according to the Ministry of Labor and Employment, extending a decadelong increase as retirement ages shift upward.

In Korea, aged workers are those who 55-64 years old. Older people are legally defined as seniors.

The data also showed that the labor force participation rate for the aged working population in 2025 was 72 percent, when including those looking for work. This figure has also been trending upward, from 71.6 percent in 2024.

In Korea, 15 to 64 is considered working age. Ministry data showed that 18.4 percent of this group is 55 or above, meaning nearly one-fifth of the country’s working-age population is in this category.

Many workers in Korea seek employment past the legal retirement age of 60 under "irregular" contracts that come with fewer legal protections than regular full-time conracts. With the country’s life expectancy at 83.7 as of 2024, there is ongoing discussion about extending the legal retirement age to 65.

Another factor behind the debate is the expected vacuum in the workforce as the "second generation" baby boomers approach retirement.

Baby booms in Korea occurred after the 1950 to 1953 Korean War and again during the country’s rapid economic growth in the 1960s and 1970s.

Second generation boomers, born between 1964 and 1974, are currently in their early 50s to early 60s.

The ministry said the retirement and imminent retirement of the second generation baby boomers presented a concern over a shortage in the working age population.