Population ageing is a global phenomenon that is often perceived as a threat to economic growth. But South Korea's experience shows that the right policy mix can turn this trend into an advantage. The IMF suggests measures such as the introduction of modern technologies (e.g. AI), promoting employment among women and the elderly, and a focus on increasing labour productivity. In this combination, despite the fact that South Korea's retirement-age population outnumbers its working-age population, the country's economic potential is still positive. Among other things, quality and accessible education is essential to enable the workforce to better adapt to changing economic conditions.

Like South Korea, the country is facing demographic pressures - a declining labour force participation rate, a growing number of people of retirement age and pressure on public finances. Although there is much talk of pension reform in this country, there is a need to go further. It is essential to promote innovation and digitalisation in industry so that output can be increased without the need for a significant growth in the workforce. Targeted investment in research and development, digitisation of government and support for start-ups can increase competitiveness even in an environment with an ageing population.

Another step is to increase labour market participation of different groups. The Czech Republic still has gaps in exploiting the potential of women, older people or people disadvantaged in the labour market. Policies that support reconciliation of family and working life, as well as retraining programmes for the elderly, can keep the workforce stable and skilled in the future. Managed migration of highly skilled workers can also be an important issue.

The experience of South Korea and the IMF recommendations give hope that demographic change does not automatically mean economic stagnation. A comprehensive approach that combines innovation, an inclusive labour market and long-term investment in human capital is key. For the Czech Republic, this means moving beyond short-term interests and focusing on strategic actions that will sustain growth in the face of changing demographics.