Korea's income poverty rate among people aged 65 and older has fallen below 40 percent for the first time on record, largely due to the retirement of the baby boomer generation (born between 1955 and 1963), who generally possess more assets, higher incomes and better pension coverage than previous generations. However, experts warn that income inequality within the elderly population is expected to widen further, underscoring the need to strengthen the social safety net for low-income seniors. According to an analysis released Wednesday by the National Pension Research Institute based on the Organisation for Economic Co-operation and Development's (OECD) Pensions at a Glance 2025, Korea's elderly income poverty rate stood at 39.7 percent. It marks the first time the country's elderly poverty rate has fallen below 40 percent in OECD statistics. The figure has steadily declined over the past decade, from 49.6 percent in 2015 to 45.7 percent in 2017, 43.8 percent in 2019, 43.4 percent in 2021 and 40.4 percent in 2023. Despite the improvement, Korea's elderly poverty rate remains about 2.7 t