World Knowledge Forum

[WKF 2020] Young and Healthy Active Seniors and Silver Economy│Setsuo Sakamoto (2020 Senior Trend, Author)

Humanities/Literature2020-11-17

 

* Young and Healthy Active Seniors and Silver Economy│Setsuo Sakamoto (2020 Senior Trend, Author): According to life-cycle income hypothesis, the scale of elderly population is inversely related to consumption, potential growth and even to real estate value. Korea’s aging pace is faster than any other country. Factoring in the hypothesis, Korea’s economy, which is now classified as aged society, is bound to be exacerbated. Is it inevitable for the ‘aged society’ to backslide into ‘old society’, watching their growth engines lose steam? As a matter of fact in the US, household assets that belong to people over 50 occupy 83% of national assets, which means optimizing the use of their assets is a step-stone to economic growth. Therefore, we should work on redefining senior generation. Taking a neutral angle is not enough. The elderly should be redefined as leading consumers and producers so as to grope about for the solution. The environment where the elderly can disseminate their expertise and experience to the industries and actively contribute to the society needs to be fostered alongside. Studies on the elderly’s life should veer to healthiness and happiness. ‘Silver economy’ deserves to be reckoned as a new growth engine to seek out for the solutions constantly.

 

 

 

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