Elderly account for almost half of total medical expenditures

Elderly people line up for free meals at a park in Jongno central Seoul on May 8 2025 Yonhap — Elderly people line up for free meals at a park in Jongno, central Seoul on May 8, 2025. Yonhap

SEOUL, August 6 (AJP) - With South Korea's rapidly aging population and declining birthrate, healthcare spending keeps rising as elderly people make up a larger proportion of those who seek medical treatments.

According to data submitted on Wednesday to lawmaker Kim Mi-ae of the main opposition People Power Party (PPP) by the Ministry of Health and Welfare, the proportion of elderly patients aged over 65 rose to 44.8 percent last year, up from 43.1 percent in 2020.

Their medical spending amounted to 52.12 trillion won (US$39.8 billion), up nearly 40 percent from 37.47 trillion won (US$28.6 billion) during the same period, accounting for nearly half of the country's total health insurance expenditures.

In the first half of this year alone, their spending already reached 27.98 trillion won (US$21.4 billion), making it likely that the total for the year will exceed last year's figure.

Im Yoon-seo lyseo0330@ajupress.com