Mental Health Among the Korean Older Population: How is it Related to Asset-based Welfare?

Objective: This article aims to investigate how older adults' income and housing tenure are concurrently associated with depression in Korea. Methods: Using the 2017 Survey of Living Conditions and Welfare Needs of Korean Older Persons, logistic regression was implemented to examine the association of housing tenure and income status with depression among 6,624 older adults. Also, the older adults' satisfaction with their economic conditions was added to examine its mediation effects on this association. Results: Homeownership lowered the likelihood of depression, whereas lower income increased the likelihood of depression among older adults. Also, lack of income security was associated with depression even among older homeowners, being partially mediated through their satisfaction with economic conditions. Conclusion: This study contributes to articulating the mechanisms linking housing tenure, income insecurity, and mental health of the older population in Korea. Future studies are needed to investigate the social determinants of health among older adults.