As Koreans age, one out in six senior citizens in Korea is expected to suffer from dementia by 2050.

According to Chung Young-ho at the Korea Institute for Health and Social Affairs on Friday, there were 530,000 dementia patients in Korea in 2015, accounting for 8.05 percent of all senior citizens.

But based on National Health Insurance Service data from 2002 and 2013, Chung concluded that dementia patients will increase 5.37 times to 2.85 million by 2050. Health insurance spending on dementia and long-term care is expected to surge apace, from W4.65 trillion in 2015 to W25.66 trillion in 2050 (US$1=W1,095).

But a successful implementation of policies to combat dementia should lead to a W6.6 trillion decline in health insurance spending, Chung added.

