On November 4, as consumer sentiment in South Korea reached its most positive level in four years and three months, Myeongdong in central Seoul was packed with locals and foreign tourists. (Yonhap)
SEOUL, Nov. 11 (Korea Bizwire) — More than one in four South Korean households expect their financial situation to improve next year, even as a growing share of the population reports feeling lonely, according to a government survey released Tuesday.
The biennial survey, conducted by the Ministry of Data and Statistics, found that 27 percent of households anticipate better financial conditions in 2026 compared with this year, a modest increase from two years ago. More than half said they expect little change, while 19 percent believe their finances will worsen.
For 2025, about 21 percent of respondents said their household income had risen from a year earlier, and 19 percent said it had declined. Roughly 16 percent reported that their income exceeded their minimum living costs, suggesting a small improvement in perceived economic stability.
Despite persistent concerns over inflation and job insecurity, 40 percent of respondents said South Korea’s overall living conditions have improved over the past two years, while 13 percent said they have worsened.
Commuters hurry to work near Gwanghwamun Station in central Seoul. (Yonhap)
The report also pointed to a steady focus on retirement planning. More than 70 percent of adults said they were preparing for post-retirement life, most commonly through the national pension system. When asked what kind of support older adults need most, a third cited financial assistance, followed by medical and caregiving services, and employment support.
Still, doubts about upward mobility remain widespread. Nearly 58 percent of respondents said they do not expect to move up the social or economic ladder in their lifetime, though that share declined slightly from two years earlier.
The latest survey also introduced a new question on loneliness. More than 38 percent of people aged 13 or older said they regularly feel lonely, with the rate exceeding 40 percent among those in their 50s and older.
Meanwhile, the survey found that public trust in social institutions fell to 54.6 percent, down 3.5 percentage points from two years ago.
The drop marks the first decline since the question was introduced in 2019, a slide that analysts say reflects lingering political turmoil following the failed martial law declaration by impeached former President Yoon Suk Yeol late last year and a series of national safety accidents.
Ashley Song (ashley@koreabizwire.com)
