retirement Archives | Be Korea-savvy
Army’s UH-1H Choppers Retired After 52 yrs of Service

Army’s UH-1H Choppers Retired After 52 yrs of Service

SEOUL, July 27 (Korea Bizwire) — The Army’s decades-old fleet of UH-1H helicopters are being retired this week, with South Korea’s homegrown multi-role chopper Surion replacing them, the military said Monday. The Army held a retirement ceremony, presided over by Aviation Operations Command Commander Maj. Gen. Kang Sun-young, commemorating UH-1H’s 52 years of service to [...]

Middle-aged S. Koreans Tighten Purse Strings over Fears of Unstable ‘Silver’ Years

Middle-aged S. Koreans Tighten Purse Strings over Fears of Unstable ‘Silver’ Years

SEOUL, Feb. 25 (Korea Bizwire) — A recent study has found that South Koreans in their 50s and older have cut spending due to anxiety over their income in their retirement years, contributing to the overall decline in the country’s propensity to consume. In a report released Monday, the Bank of Korea (BOK) analyzed the [...]

6 in 10 Koreans Want to Work After Retirement

6 in 10 Koreans Want to Work After Retirement

SEOUL, Jan. 31 (Korea Bizwire) — More than six out of every ten South Koreans continue to work after retirement, which is high compared to other developed countries. The Credit Suisse Research Institute (CSRI) conducted an online survey in September last year of 1,000 people with voting rights in 16 countries, including South Korea, the [...]

Go Master Lee Se-dol, the Only Human to Beat AI AlphaGo, Retires

Go Master Lee Se-dol, the Only Human to Beat AI AlphaGo, Retires

SEOUL, Nov. 19 (Korea Bizwire) — South Korean Go master Lee Se-dol, who is the only human to score a win against the artificial intelligence (AI) Go player AlphaGo, retired Tuesday. The 36-year-old officially retired from Go competition by submitting his letter of retirement to the Korea Baduk Association, which overseas Go professionals in South [...]