In a Centenarian Era, Supportive System for the Elderly’s Happy Consumption Life-Style Lacks

- Held a seminar to announce study results and policy of 100 aging society experts -

    As we enter the era of centenarians, all sectors around the society are actively responding and so does the consumer sector. This is because, in order to shift the elders’ role from beneficiaries of welfare programs to active consumers in today’s dynamic market, it requires productive supportive system that goes beyond the individual level and to the social and national level.

    Korea Consumer Agency (www.kca.go.kr) is carrying out various measures to improve elderly’s rights. In an effort to do so, we have conducted “consumer policy issues and challenges to create happy aging society” research on 100 aging society experts.

 □ As for the question of what is the standard age to be considered elderly, 58% of experts responded 70 and 26% responded 65

    Research result shows that as for the question of what is the standard age to be considered elderly, which our society is debating over, 58% of experts said 70 years old and 26% answered 65 years old. Experts’ answer is lower than last year’s “2014 elderly current status research (conducted by Ministry of Health and Welfare, and Statistics Korea)”, which reported that ordinary citizens responded the standard age to define as being elderly is 70 (78.8%). However, it shows that there is social consensus on the need to increase the standard age of the elderly which is currently set at age 65.

□ ‘Safety’, ‘Information’ and ‘Redress’ are priorities among elderly consumer problems

    Experts put the highest priority on the safety out of all elderly consumer problems followed by information, and redress. This can be seen as the result of taking various factors into account including raised awareness on safe consumption life-style, creating elderly centered consumer market and improved consumer rights and others.

□ Majority agrees on the need for tri-cycle system of ‘protection-prevention-participation’ for elderly consumers’ policy

    Most experts agreed on the need for ‘tri-cycle’ system and out of 18 different challenges, a preemptive measure of ‘crack down on fraudulent businesses that targets elderly consumers and actively adopting new policies’ and ‘stricter goods and service safety standard for elders’ ranked the top in terms of consensus rate.

    Also, looking at the importance of each challenge, ▲strengthen redress and consultative system for elderly in ‘protection of elderly consumers’ sector ▲ adopting stricter goods and services standard for elderly in ‘elderly participation’ sector ▲ elderly consumer consultative system, improving consumer life-style and creating job and opportunity for elderly in ‘retired consumer participation’ sector ranked the top in terms of priority.

□ Currently preparation for creating happy and satisfied society for elderly is not enough

    In order to create a happy society where elderly consumers are satisfied, it is important that every participant of sour society makes effort. As a result of experts’ current status assessment, Central government scored 53.0> Local government scored 50.9> Consumers scored 48.3> Businesses scored 43.6 (out of 100). This implies that our society needs to pay more attention in preparing for aging society; especially elderly consumers and businesses attention and support are necessary.  

    Based on the research, KCA will lay out short and long term challenges and sustainable strategies for creating elderly consumers policies. In addition, we will report the result to relevant departments and carry out projects that are necessary to help elderly enjoy happy consumer life-style.

     In order to promote cooperation among government, academics, researchers, and industries with Korea Society of Consumer Policy and Education, KCA will hold > policy seminar in the upcoming June 17thin Sook-Myung women’s university 100 years anniversary hall.