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Poverty Leading Cause of Suicide Among S. Korea Elderly

Poverty Leading Cause of Suicide Among S. Korea ElderlyPoverty Leading Cause of Suicide Among S. Korea Elderly

According to Statistics Korea, the suicide rate in Seoul stood at 24.7, meaning 24.7 Seoul residents in 100,000 committed suicide last year and the nation’s average suicide rate was 27, reports the Korea Herald.

By age group, Seoul citizens aged 60 or over had the highest suicide rates, with 50.3 seniors taking their own lives last year alone.

Poverty has been blamed for the growing rate of senior citizen suicide. According to the Korea Labor Institute, 48.6% of the country’s elderly were living in poverty in 2014, defined as living off on 50% or less of median household income.

Statistics from the Organization for Economic Cooperation and Development indicate that Korea has one of the highest suicide rates among its 34 member countries, with 29.1 Koreans per 100,000 people taking their own lives, compared to the OECD average of 12.1.

Financialtribune.com