South Korea’s pensioner time bomb is about to go off
Think of South Korea and K-pop, Korean cuisine, films, and perhaps even skincare products spring to mind. The fact that anything preceded by a ‘K’ immediately invokes something Korean is testament to the success of South Korea’s global soft power. But behind the sentimental love stories and bright lights, Asia’s fourth-largest economy is at a precarious juncture. As well as the ongoing geopolitical tensions on the Korean peninsula, the country known as the ‘land of the morning calm’ is facing acute demographic crises. Beyond the low birth rate, its ageing population and age-based employment policies only highlight how for South Korea to become a truly global state, change must also