Credit: Public domain.
South Korea’s rapid greying means more Alzheimer’s Disease. According to a recent study by the Ministry of Health and Welfare 보건복지부 more than 10% of Koreans aged 65 and older, or 1.8 million out of a projected elderly population of 17.15 million, are projected to suffer from dementia by 2040.
Nationwide, treatment costs for dementia patients rose from KRW 1.6t (USD 1.2b) in 2015 to KRW 3.2t (USD 2.4b) in 2024. Today, the annual cost of care per patient (including medical and long-term care costs) averages around KRW 27m (USD 20k), or around 43% of average household annual income.
