Aging society and elderly care in Korea

A recent rehabilitation center development project in a region of Korea will open opportunities for Norwegian solution or product exporters.

In line with a series of elderly care industry development projects, Korea is initiating a Training Center for Leadership in the Rehabilitation Industry, mainly focusing on the growing elderly population. This training center will be supported by the central government until 2020 and Daegu University is coordinating the project with its key stake holders including the local government, the Gyeonbuk province and major hospitals.

collage

Picture: Regional rehabilitation center development in the Kyeongbuk province, Daegu Universit, and elderly people in Korea (Source: Daegu University and Bridget Coila https://flic.kr/p/5u9Vwq)

 

 Currently the project is at an early stage where the coordinator at the University is looking for potential partners for the development.

Opportunities for Norwegian companies

A robot rehabilitation company from Switzerland and an advanced comfort wheelchair company from Norway are in discussions and scheduled to have seminars with relevant audiences in spring 2017. Once a product is qualified for the long term training program at the center, it will be presented to partner hospitals and used for training the leaders of rehabilitation at hospitals and nursing homes.

The following can be candidate products or solutions for this joint collaboration:

  • medical products for elderly care
  • elderly care aids
  • rehabilitation products or solutions
  • training or educational service with related products in rehabilitation, etc.

Aging society

Korea is currently considered to be the world’s fastest growing aging society in the world. For the last 60 years, Korea has been enjoying fast economic growth and it has improved the living standard and medical spending for healthcare.

However, the world’s lowest birth rate for the last 10 years and the high class life expectancy are threatening the future society of Korea which needs to address the aging society with solutions for the growing elderly population.

medical-spending

Statistics in 2015 said that medical spending on people over 65 years of age is twice that of the other people in average. This means that the medical spending increase above was mainly driven by the fast growing elderly population. The elderly people over 65 in 2014 were 12.7%, while in 1994 it was only 5.7%. Korean national statistics say that it will be more than 20% by 2026.

For more information please contact:

Changan Choi
Senior Market Adviser, Innovation Norway
Changan.choi@innovationnorway.no

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