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Policy Issue

Framework Measures to Deal with Demographic Challenges
Nov 2019
The government has announced its framework measures to deal with demographic challenges: The country’s fast ageing population and the impact of falling birth rates on future economic growth. The framework measures contain plans to reduce the effect of declining population, such as labor shortages and rising welfare spending accompanied by ageing population.

The measures propose using the elderly and foreign workers to fill the worker shortage, preparing for falling public service demand, such as declining demand for teachers, introducing alternatives to mandatory military services given shrinking young adult population, changing workplaces to be smarter to help elderly workers, promoting the purchase of retirement pension plans, and strengthening fiscal resources management to ensure sustainable welfare services for the country’s ageing population.


* For further details, please refer to the attached file
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