Despite the rapid increase in the older population in South Korea, the quality of life of older adults remains low. The suicide rate of older adults in South Korea is among the highest of all OECD countries. Using data from 2012 (wave 4) to 2020 (wave 8) of the Korean Longitudinal Survey of Women and Families (KLoWF), this study examined the effects of participation in productive activities on suicidal ideation among South Korean female older adults. This study derived three key findings. First, although there were differences regarding the type of productive activity, participation in productive activity could reduce the probability of experiencing suicidal ideation. Participation in housework as a productive activity related to daily life had the greatest marginal effect. Second, the more productive activities one participated in, the lower the likelihood of suicidal ideation. Third, the economic and health status of older women had a significant effect on suicidal ideation. The marginal effect of health status was greater than that of economic status. This study not only makes an academic contribution but also has policy implications for the field of public health.