Koreans in their 40s increasingly slipping through the welfare safety net
Nearly 229,000 Koreans in their 40s were identified as households in crisis last year, as rising debt, child rearing costs and welfare eligibility gaps deepen financial hardship.
Middle-aged job seekers look over job postings at a hiring fair at the Seoul 50 Plus Western Campus in Eunpyeong District, northern Seoul, on Sept. 1.YONHAP
The number of Koreans in their 40s falling into welfare blind spots has jumped 32 percent in five years, as debt and child rearing costs weigh on an age group usually seen as being in its peak earning years.
Last year, 228,997 people in their 40s were flagged as households in crisis that fall outside the safety net, according to data the Korea Social Security Information Service submitted to Rep. Han Zee-a of the People Power Party, released Oct. 14. Their share of all people identified rose from 13 percent to 16.7 percent over the same period.
Of the 976,812 people in their 40s identified between 2021 and 2025, about 440,000, or nearly half, did not receive appropriate welfare services, in many cases because they were deemed ineligible.
“It is an ironic reality that people in their 40s, who have worked quietly and paid their taxes faithfully, struggle to get proper support when they actually fall into an economic crisis,” Han said. “We need welfare policies that look at the real hardships of daily life, beyond uniform criteria based on age or household type.”
In July, a couple in their 40s and their two children, aged 12 and 8, were found dead at an apartment complex in Uijeongbu, Gyeonggi. The family had fallen about three months behind on small bills such as gas and apartment maintenance fees. A note left by the husband reportedly described financial hardship from an income around the minimum wage.
In 2023, a woman in her 40s who had been struggling financially while raising her 4-year-old son was found dead at her home in Jeonju, North Jeolla.
Incomes usually rise in a person’s 40s, but so do spending and debt. Because they earn a certain income, households that are in crisis in practice may not qualify for welfare support.
People commute to work on Feb. 19 in central Seoul.NEWS1
Households headed by someone in their 40s carried an average debt of 143.25 million won ($107,400) last year, up 8.9 percent from a year earlier, according to the Ministry of Data and Statistics’ 2025 Survey of Household Finances and Living Conditions. That was the biggest increase of any age group.
One in three borrowers in their 40s, or 34 percent as of the second quarter of this year, spends 40 percent or more of their income on debt repayments, Bank of Korea data shows. Their average loan balance, 124.22 million won, is the highest of any age group.
Private education adds to the burden. In the government’s 2024 Social Survey, 86.9 percent of people in their 40s with children said private education was the most burdensome part of their children’s education costs, compared to 53.5 percent of those in their 50s and 24.8 percent of those in their 60s.
Their mental health is also deteriorating. Suicide accounted for 25.4 percent of deaths among people in their 40s last year. Suicide was the age group’s leading cause of death for the second straight year. The share has nearly quadrupled from 6.4 percent in 2000.
Health and Welfare Minister Jeong Eun-kyeong speaks at an emergency meeting in Seoul on March 22 to review the government’s response to deaths in households in crisis.MINISTRY OF HEALTH AND WELFARE
Many studies point to economic circumstances such as job loss and poverty as the main cause of suicide among people in their 40s. They also cite the burden of supporting a family and despair at being too old to start over.
The number of people in their 40s treated for depression rose 58.9 percent from 110,276 in 2020 to 175,217 last year, according to National Health Insurance Service data obtained by Rep. Seo Mi-hwa of the Democratic Party. That far outpaced the 36.7 percent average increase across all age groups.
“When people in their 40s, who are at the height of their economic activity, face an economic crisis such as losing a job or falling into debt, it can easily lead to depression and suicide,” Paik Jong-woo, a professor of psychiatry at Kyung Hee University Hospital, said.
“But because the social atmosphere still makes it difficult for them to ask for help first, the social safety net needs to be designed more precisely, and the central and local governments must reach out first.”
If you or someone you know is feeling emotionally distressed or struggling with thoughts of suicide, LifeLine Korea can be contacted at 1588-9191 or the Crisis Counseling Center at 1577-0199. The Seoul Global Center offers English-language counseling, contact 02-2075-4180 (+1) to arrange a session. Other international helplines can be found at www.befrienders.org.
This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.
