South Korea's retirement age climb gains public momentum amid demographic crisis

Facing a shrinking workforce and pension crisis, South Korea bets on later retirements. But will raising the age to 68 solve its demographic time bomb?

, and Administrator

2026 February 1 . 10:01 AM

2 min read

The image shows an old book with a drawing of a man sitting on top of it. The man is wearing a long... — The image shows an old book with a drawing of a man sitting on top of it. The man is wearing a long coat and a hat, and has a serious expression on his face. The text on the book reads "A Temporary Retirement".

South Korea's retirement age climb gains public momentum amid demographic crisis

South Korea is gradually increasing its mandatory retirement age to address demographic challenges and labour shortages. The latest survey reveals strong public backing for further extensions, particularly among older and non-working citizens. Support varies by region, age group, and employment status, with Seoul residents showing the highest approval rates.

The statutory retirement age in South Korea has risen steadily since 1998. Initially set at 60, it increased to 62 by 2013 for those born between 1953 and 1956. Further adjustments raised it to 63 by 2016, 64 by 2019, and 65 by 2023. Plans now aim to push it to 68 by 2033 due to pressing concerns: a record-low birth rate of 0.78 in 2022, an ageing population (projected to reach 20% over 65 by 2025), and the looming depletion of pension funds by 2055. These reforms reflect long-term efforts under past administrations, including Roh Moo-hyun's 2007 pension linkage and Moon Jae-in's 2015 acceleration of age adjustments.

A recent survey found that two-thirds of Koreans aged 50 and older believe the retirement age should exceed the current 65. Support peaks among the oldest respondents, with 70.4% of those aged 70 to 74 backing an increase. Non-working individuals show greater approval (67.7%) compared to employed respondents (64.8%). Regionally, Seoul residents lead in support, with 69.1% favouring a higher retirement age.

Awareness of the senior job programme is high among those 65 and older, with 80.6% knowing about it. However, only 15.5% have applied. Among applicants, 75.5% intend to participate again in the future, while 12.9% of non-applicants express interest in joining later. Those supporting an extension propose an average retirement age of 66.3.

The survey highlights broad but uneven support for raising South Korea's retirement age. Older citizens, non-workers, and Seoul residents show the strongest backing, reflecting concerns over economic stability and workforce sustainability. With further increases planned by 2033, the government faces the challenge of balancing demographic pressures with public sentiment and labour market needs.