Soldiers are aiming to save over 10 million won during their military service, with plans to spend the money on travel after their discharge. (Image courtesy of Yonhap)
SEOUL, Jan. 30 (Korea Bizwire) – A recent survey has revealed that soldiers are aiming to save over 10 million won during their military service, with plans to spend the money on travel after their discharge.
The survey, conducted by the Ministry of National Defense’s Kookbang Ilbo through the app ‘The Camp’ from January 13 to 16, involved 501 active-duty soldiers.
According to the findings released on January 29, a significant share of the respondents, 313 soldiers (62.5%), indicated their savings goal during military service to be between 10 and 20 million won.
This was followed by 82 soldiers (16.4%) aiming to save between 5 and 10 million won, and 53 soldiers (10.6%) targeting savings between 3 and 5 million won.
The increase in soldiers’ savings goals appears to align with the recent rise in military salaries. This year, the salaries for privates, privates first class, corporals, and sergeants have been set at 640,000 won, 800,000 won, 1 million won, and 1.25 million won respectively, which is about two to three times higher than the rates in 2019.
A spokesperson from the Ministry of National Defense PR Agency noted, “A similar survey conducted in 2019 with 399 soldiers found that the highest number of respondents, 73 soldiers (18.3%), planned to save between 3.51 and 4 million won, with 54 soldiers (13.5%) aiming for 4.51 to 5 million won.
It’s evident that the soldiers’ savings goals have more than doubled in five years.”
When asked about their plans for the money saved during military service, the most popular response was ‘travel’, with 164 soldiers (32.7%) expressing their desire to explore new places post-discharge.
Other common goals included contributing to educational expenses, which 57 soldiers (11.4%) opted for, followed by shopping (53 soldiers, 10.6%), securing funds for independence (42 soldiers, 8.4%), and buying gifts for family members (37 soldiers, 7.4%).
M. H. Lee (mhlee@koreabizwire.com)
