A Lost Generation

In the above featured picture, there is a comparison of the current South Korean society. On the right there is an image of the luminous skyscrapers in the capitol Seoul, displaying South Korea's advancement, modernity, development and economic might. Where as on the left there is a picture of elderly folks who had worked day and night throughout their lives to make the South Korea which is today (the picture on the right). However, despite all their efforts in the end they were rewarded with poverty, hunger, grief and a lonely death. With no reckoning of their efforts by the younger generation, this generation of the elderly folks is indeed a lost generation.
South Korea is one of the most developed nations on the planet. Known to be an Asian tiger and a key ally of the United States of America in the region. It has the world's fastest internet speed and highest smartphone ownership. Also ranked number one in 4G LTE coverage. The economy ranks 11th by nominal and 13th by purchasing power. As it has produced one of the biggest and internationally famous brands. Such as LG, Samsung, Hyundai and many more.
Despite having all these fancy attributes, South Korea is experiencing a major internal crisis. The demographic crisis is tightening its grip on the nation. By 2060 it is suggested that 90% of the population will be above the age of 64. South Korean government's neglect to this situation is surprising as ever. Resulting a growing poverty struck population of the elders already in existence in South Korea. Every 1 in a 2 elder folk is suffering from poverty right now in the country. The major two reasons responsible for this situation, according to the analyst are, the financial factor and the social factor. Now lets discuss those factors in a bit detail.

The Financial Factor

South Korea's economy is one of the most developed and efficient in the world. However, in the recent years there has been a slight increase in poverty, which continues to grow. That slight increase in poverty has first hit the elders.
The pension received by the elderly in South Korea is below $200 per month. Which is not enough for them to live on comfortably, especially if they are having health issues. Along with the need to buy expensive medicine or expensive treatments. According to the Korean government the low pensions are because the national pension system has only existed in South Korea since 1988.
Since the Korean economy is enriched with multiple local and international brands, shops and products. Small businesses are suffering and are not able to get a significant breakthrough. The Korean public has a high ability to purchase, which makes them neglect cheap goods produced by the small businesses. Many elderly folks in South Korea are involved in small businesses and are unable to generate enough profits. Hence, in the recent years majority of the small businesses filed for bankruptcy belonged to elderly folks.

The Social Factor

With low pensions and bankrupt businesses, you would expect that the grown up children would help or support their parents. Well unfortunately that is not the case. Many adult South Koreans prefer to leave their parents as soon as possible, especially before they get old. The reason why the adult Koreans suggest is that the elderly are a burden, they become unhygienic due to their health issues and spending time with them is (according to them) a 'waste of time'. They prefer to spend their time expanding their fortunes rather wasting time with 'something' which is already in decay.
The financial problems, declining health and the attitude of their offspring. Has lead the elders to commit suicide. In no other developed nation the elderly commit suicide as much as in South Korea. In terms of elderly suicide in developed nations, South Korea is ranked the highest. The suicide is slowly turning into a an epidemic and is also spreading among the youth, since the current generation of South Korean parents is similar to Japanese parents. If this continues the South Korean suicide issue can eventually turn out to be like Japan.
Another issue on the rise is that elderly woman being involved in prostitution. In recent years prostitution has significantly grown among elderly women. They argue that left alone by their children, no significant help from the government. What else they can do to eat when they are hungry or when they have to buy medicine.

Conclusion

It is a shame that the current South Korean generation is displaying such a cruel and selfish attitude towards their elders. After all it was the elderly folk's generation, who worked day and night to develop Korea. They were the one who laid the foundations of the modern developed South Korea today, from which the current generation is benefiting. The modern life style the current generation is enjoying, it is due to the elders efforts in the 1960's and in the 1970's. Instead of honoring the elders of their efforts to develop the country. The government can not even give them a proper basic pension.
There are multiple small level NGOs, which are helping the elderly. However, their support is limited and not sufficient. It is sad to see a generation which made South Korea an economic power house, is dying alone in their old age in grief and despair. The current generation and the government should wake up from their ignorance. If they eventually fail to handle or will ignore this crisis. Then they should prepare to suffer a poetic justice soon in the near future!

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