SEOUL, Dec. 17 (Korea Bizwire) – A recent study by Woori Financial Group reveals that nearly 60% of South Korea’s Generation X—those born in the 1970s—have not begun preparing for retirement. The findings, published in Woori’s 2024 Trend Report, highlight the financial challenges faced by this generation, many of whom are burdened with supporting both [...]
SEOUL, Dec. 3 (Korea Bizwire) – As South Korea confronts an aging population, discussions around extending the retirement age are gaining momentum in political and corporate circles. While companies remain wary of increased wage burdens, they are exploring flexible approaches to address the issue. The ruling People Power Party has highlighted the urgency of reform. [...]
SEOUL, Nov. 29 (Korea Bizwire) – Major South Korean pay TV operators are implementing voluntary retirement programs amid deteriorating business conditions, drawing criticism for shifting the burden of financial challenges onto workers. Following LG HelloVision, the country’s largest cable TV operator by subscribers, both Skylife and HCN have announced voluntary retirement plans. Skylife revealed its program during [...]
SEOUL, Nov. 6 (Korea Bizwire) – A new survey has revealed that seven out of 10 Korean companies believe extending the retirement age would create significant management challenges due to seniority-based wage systems, according to findings released on November 5 by the Korea Enterprises Federation (KEF). The survey, conducted by Research & Research on behalf of [...]
SEOUL, Oct. 22 (Korea Bizwire) – As discussions about extending the retirement age gain momentum in South Korea, a recent survey reveals that 8 out of 10 companies view such a change positively. The push for this shift comes as the nation grapples with a shrinking working-age population and improvements in the health of older adults. [...]
SEOUL, Oct. 17 (Korea Bizwire) – A recent survey has revealed the emergence of a “new elderly” demographic in South Korea, characterized by higher income, better education, and shifting values regarding inheritance and self-perception of age. This trend, partly attributed to the baby boomer generation (born 1955-1963) entering their senior years, is reshaping traditional notions of [...]
SEOUL, Oct. 15 (Korea Bizwire) — The SSG Landers announced Tuesday they will hold a retirement ceremony next year for their former outfielder Kim Kang-min. Kim, 42, announced his retirement after spending the 2024 Korea Baseball Organization (KBO) season with the Hanwha Eagles. But he had played for the Landers/SK Wyverns franchise from 2002 to [...]
SEOUL, Aug. 13 (Korea Bizwire) – A recent study has revealed that one in eight middle-aged South Koreans are caught in a challenging predicament, shouldering the burden of family care while simultaneously lacking adequate preparation for their own retirement. The Korea Institute for Health and Social Affairs (KIHASA) released a report on August 11 titled “The [...]
SEOUL, Jul. 3 (Korea Bizwire) – The Bank of Korea (BOK) has released a study highlighting the significant economic implications of the impending retirement of South Korea’s second generation of baby boomers. The research suggests that as over 9.5 million individuals born between 1964 and 1974 reach the legal retirement age of 60 over the next [...]
SEOUL, May 27 (Korea Bizwire) – Two out of three employed individuals with disabilities in South Korea are working in precarious, irregular jobs, according to a new government report highlighting the economic vulnerabilities faced by this population. The findings also reveal alarmingly low levels of retirement preparation, even as the nation’s disabled community rapidly ages. Based [...]