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| ▲ Bank of Korea (BOK) Gov. Rhee Chang-yong speaks during a conference on artificial intelligence in Seoul in this Jan. 21, 2026, file photo. (Yonhap) |
BOK chief-population aging
Silver economy may be next blue ocean amid surging demand for 'well-aging': BOK chief
SEOUL, Feb. 10 (Yonhap) -- The head of South Korea's central bank on Tuesday stressed the need for the country to harness innovation and artificial intelligence (AI) to turn challenges stemming from population aging into new growth engines in line with the growing "silver economy."
Bank of Korea (BOK) Gov. Rhee Chang-yong made the remarks in an address at a forum jointly hosted by the central bank and Yonsei University on industrial responses to a super-aged society.
"Aging is clearly a crisis facing our society, but it is also a structural change that creates new demand," Rhee said.
South Korea officially became a super-aged society last year, with more than 20 percent of its population aged 65 or older.
"The silver economy should no longer be confined to the realm of welfare. It is time to recognize it as a crucial industrial sector capable of creating added value through innovation and technology," he said, calling for an expanded role for the private sector to meet growing demand.
The number of elderly people requiring intensive care and end-of-life preparation is expected to more than double from 292,000 in 2025 to 639,000 in 2050, and demand for "well-dying" and "well-aging" is rising rapidly, the governor noted.
To turn demographic challenges into industrial opportunities, Rhee stressed the need for greater use of healthcare data and reforms to infrastructure-related regulations to maximize the use of AI.
Rhee also proposed easing legal and administrative restrictions to increase the supply of nursing care facilities and crematoriums in urban areas.
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