[News Today] POOR ELDERLY’S MOVEMENTS, RESIDENCE

[LEAD]
Korea faces the highest rate of elderly poverty in the OECD countries. More than half of those over 75 live below the poverty line. A KBS big data analysis reveals these seniors are gathering around Seolleung Station in central Gangnam. What's the reason? We take a look.

[REPORT]
Seolleung Station in southern Seoul.

Kim/ Senior Citizen (VOICE MODIFIED)
My office moved here from Exit No. 5.

These two elderly citizens are talking about the company they work for.

Park/ Senior Citizen (VOICE MODIFIED)
It is a thriving global company.

Lee/ Senior Citizen (VOICE MODIFIED)
It's a firm that revolutionizes the network's history, focusing on blockchain, e-commerce and gaming.

In this building basement, a group of senior citizens are taking a class.

Class Participant/ (VOICE MODIFIED)
They'll pass out lucky numbers. The newbies will get gifts, stocks and cash. It’s a good, legal company letting us in on making money.

But local residents all say the company is a pyramid scheme.

Local Resident/ (VOICE MODIFIED)
You want to know if they're ripping off the elderly in the basement?

Office Worker/ (VOICE MODIFIED)
They're probably headed to the office of the pyramid scheme.

KBS analyzed the big data provided by KT to find out the movements and residences of low-income senior citizens.

The study showed that besides Tapgol Park, a well-known elderly gathering spot in Seoul, low-income seniors flocked to the middle of the Gangnam area.

Their residential information was also examined in 250-square-meter sections.

According to the analysis, they mostly lived in a city slum.

About 70% of the population here are older than 60.

Tak Jang Han/ Social Welfare Researcher
Seniors making up 70% of the slum population demonstrates that the worst reality of elderly poverty is found here.

Next is the gosiwon area in Gwanak-gu District in southern Seoul.

Choi Eun-yeong/ Dir., Korea Center for City, Environment Research
Seoul's maximum housing benefit of 340,000 won (USD 245) limits seniors’ options to small rooms, basements or single rooms unlike other countries' housing support.

Korea has the worst elderly poverty and suicide rates among OECD nations.

This is sparking calls for a solution to the elderly poverty issue before it's too late.