Commuters hurry through the area around Gwanghwamun Station in central Seoul on their way to work. (Yonhap)
SEOUL, Nov. 19 (Korea Bizwire) — A large majority of South Korean workers in their 20s and 30s say the country should extend the legal retirement age, reflecting deepening economic anxieties and concerns about old-age security, according to a new survey released Wednesday.
The poll, conducted by Remember & Company, which operates the professional networking platform Remember, found that 74 percent of 1,037 salaried workers believe retirement should be pushed back.
Support was highest among employees in their 60s (80.8 percent) and 50s (77.9 percent), but backing among younger generations was also significant, with 67.9 percent of respondents in their 20s and 70.4 percent in their 30s in favor.
Asked what they consider an appropriate retirement age, 60.2 percent chose between 63 and 65.
Economic insecurity was the dominant factor driving support. Nearly 39 percent cited the need for financial stability in old age, while 17.8 percent pointed to the income gap before National Pension benefits begin.
But opinions diverged sharply across generations on how the policy should be implemented. Younger workers prioritized reforming pay structures—such as shifting from seniority-based wages to performance- or role-based systems—before raising the retirement age.
Among workers in their 40s and 50s, 27 percent said retraining programs for older employees to maintain productivity should come first.
“Debates about extending the retirement age should focus less on generational conflict and more on how to fundamentally redesign Korea’s personnel systems,” said Joo Dae-woong, head of research at Remember.
Lina Jang (linajang@koreabizwire.com)
