retirement Archives | Be Korea-savvy
Books Urging Workers to Quit Their Jobs and Travel Increasingly Popular

Books Urging Workers to Quit Their Jobs and Travel Increasingly Popular

SEOUL, May 7 (Korea Bizwire) — As times are changing, the concept of a “lifetime workplace” is no longer true. Unlike the older generation, who had only tendered their resignations in their hearts for their entire lives, the younger generation now boldly chooses to retire. Retirement-related content is also gaining popularity, with subscribers flocking to [...]

National Pension Beneficiaries See Big Drop in Purchasing Power After Retirement

National Pension Beneficiaries See Big Drop in Purchasing Power After Retirement

SEOUL, Apr. 23 (Korea Bizwire) — The Hana Institute of Finance, a research unit of Hana Financial Group Inc., has suggested in its “Report on the Retirement Life of South Korean National Pensioners” published on Monday that nearly half of the recipients of the national pension plan see a 50 percent drop in their purchasing [...]

S. Koreans Bear Financial Burden to Support Their Children, Even After Retirement

S. Koreans Bear Financial Burden to Support Their Children, Even After Retirement

SEOUL, Jan. 29 (Korea Bizwire) — Six out of ten South Koreans in their forties and fifties continue to bear the financial burden of supporting their children, even after having retired. According to a survey conducted by the Korea Insurance Development Institute on South Korean citizens living in six major cities, 56.6 percent of those [...]

Male Retirees Twice as Likely to Suffer from Depression

Male Retirees Twice as Likely to Suffer from Depression

SEOUL, Dec. 27 (Korea Bizwire) — A recent study has revealed that South Korean men are twice as likely to suffer from depression after retirement compared to women. The Korea Institute for Health and Social Affairs (KIHASA) revealed on Wednesday how retirement can affect the psychological health of individuals. The study showed that the CES-D, [...]

46 pct of South Koreans Financially Unprepared for the Future

46 pct of South Koreans Financially Unprepared for the Future

SEOUL, Oct. 18 (Korea Bizwire) — Nearly half of all South Koreans say they are economically unprepared for life after retirement. According to a study conducted by the Korea Insurance Research Institute, 45.9 percent of 2,440 adults surveyed said that “they were not prepared economically for the final years of their lives.” Among respondents, 38.8 [...]

8-Year Gap Between Actual and Expected Retirement Age

8-Year Gap Between Actual and Expected Retirement Age

SEOUL, Oct. 8 (Korea Bizwire) — A new survey has found that while non-retirees predicted their retirement age to be 65 years old, actual retired respondents had to quit work at 57. In addition, the survey found that 1.98 million won was the minimum monetary amount needed per month after retirement to cover daily expenses. [...]