As South Korea transitions towards a super-aged society, there has been a dramatic increase in the number of elderly individuals (aged over 64) requiring specialized care as they near the end of their lives. According to a report released by the Bank of Korea, this demographic, estimated to require intensive illness care or end-of-life services, is expected to grow from about 148,000 in 2001 to 292,000 by 2025, and potentially reach 639,000 by 2050. This alarming trend highlights the urgent need for adequate services tailored to this vulnerable population.

Despite the growing demand, there is a troubling imbalance in the supply of necessary services like long-term care, funeral services, and cremation facilities. The report indicates that while the population needing end-of-life care has been increasing at an average rate of 3.6% annually since 2008, the admission rates for elderly care facilities have surged at more than double that rate—averaging 8.0% per year. Additionally, cremation rates have skyrocketed from 33.5% in 2000 to 94.0% in 2024, further stressing the inadequacy of current provisions to meet rising demands.

Experts recommend a greater emphasis on supporting vulnerable groups and reducing private sector entry costs to expand the supply of these essential services. The high-quality ratings of care facilities remain low despite the increase in admissions, and existing cremation facilities are operating at full capacity, exacerbating the lack of effective supply to meet real-time demand. As societal norms shift towards accepting institutional care and cremation, the gap between potential demand and actual service provision continues to grow, prompting calls for urgent policy reform and investment in elder care services across South Korea.