What is the Value of Assets Held by Elderly Dementia Patients in South Korea?
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Synopsis
A recent report reveals that elderly dementia patients in South Korea collectively hold assets worth 6.4% of the nation’s GDP. With projections indicating a rise in these assets, the implications for the economy and elder care policies are significant.
Key Takeaways
- Elderly dementia patients in South Korea hold assets totaling 153.5 trillion won.
- This amount represents approximately 6.4 percent of the nation's GDP.
- The number of dementia patients is expected to rise, impacting economic policies.
- The value of “dementia money” is projected to exceed 488 trillion won by 2050.
- Nearly 10 percent of older adults in South Korea are affected by Alzheimer's disease.
Seoul, May 6 (NationPress) Elderly dementia patients in South Korea possess a total of 153.5 trillion won (approximately $110.9 billion), which represents around 6.4 percent of the nation’s gross domestic product (GDP), according to a report released on Tuesday.
The assets are held by 1.24 million dementia patients aged 65 and older as of 2023, as indicated by a study from the Presidential Committee on Ageing Society and Population Policy, as covered by the Yonhap news agency.
Specifically, the elderly dementia patients own 33.4 trillion won in financial assets and 113.8 trillion won in real estate.
The committee predicts that the total value of what they refer to as “dementia money” will exceed 488 trillion won by the year 2050, equating to 15.6 percent of the GDP.
Despite making up only 2.4 percent of the overall population, the assets held by senior dementia patients account for 6.4 percent of the nation’s GDP, highlighting a significant concentration of wealth.
They added, “The asset freeze caused by dementia is expected to have a considerable impact on the real economy.”
The committee intends to keep a close watch on annual fluctuations in this “dementia money” and explore policies to enhance both private and public trust systems as well as the guardianship framework for dementia patients.
According to recent statistics from the Ministry of Health and Social Welfare, nearly 10 percent of older adults in South Korea are diagnosed with Alzheimer's disease.
As of 2025, the number of dementia patients is projected to reach 970,000, making up 9.17 percent of those aged 65 and older.
This number is expected to exceed 1 million next year and reach 2 million by 2044.
A ministry official stated, “The proportion of dementia cases among the elderly is anticipated to remain around the 10 percent mark until 2045, increasing to about 12 to 13 percent by 2059.”
Point of View
The data reveals a pressing issue regarding the financial status of elderly dementia patients in South Korea. While their assets contribute significantly to the GDP, the concentration of wealth raises questions about the accessibility of these resources and the necessary measures to safeguard the interests of vulnerable citizens.
NationPress
06/05/2025
Frequently Asked Questions
What percentage of South Korea's GDP do dementia patients' assets represent?
The assets held by elderly dementia patients represent approximately 6.4% of South Korea's GDP.
How many elderly dementia patients are there in South Korea?
As of 2023, there are about 1.24 million elderly dementia patients aged 65 and older in South Korea.
What is the projected value of dementia-related assets by 2050?
The value of dementia-related assets is projected to exceed 488 trillion won by 2050.
What impact does dementia have on the economy?
The asset freeze caused by dementia is anticipated to significantly influence the real economy.
How prevalent is Alzheimer's disease among older adults in South Korea?
Nearly 10% of older adults in South Korea are diagnosed with Alzheimer's disease.
